Perrella | Search. List. Sold.
    Buy & Sell: Homes, Commercial, Waterfront & Land

Perrella & Associates

Real Estate | Appraisal Service

  • Home
  • Agents
  • About Us
    • Mesaba Woods
    • River Creek
  • Blog
  • Home Show

LISTING HOMEOWNERS

Homeowners Are Preparing to List After the Pandemic

May 7, 2020

Real estate professionals report that about 77% of potential sellers are preparing to sell their homes once stay-at-home orders from the COVID-19 pandemic are lifted, according to a newly released survey from the National Association of REALTORS®. More than half of REALTORS® report their clients are taking on do-it-yourself home improvement projects in preparation, too.

“After a pause, home sellers are gearing up to list their properties with the reopening of the economy,” says Lawrence Yun, NAR’s chief economist. “Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the stability that comes with these locked-in monthly payments into future years.”

NAR conducted an Economic Pulse Flash Survey May 3-4 and asked about 2,500 members how the coronavirus has been affecting their real estate business.

Home buyers are gradually re-emerging, but the pandemic has shifted some of their housing preferences, according to the results. Five percent of REALTORS® report that their clients have changed their neighborhood preferences from urban to suburban due to the pandemic. Also, one in eight REALTORS® surveyed say that buyers have changed at least one home feature that’s important to them since the COVID-19 pandemic. The most common features identified are home offices, yard space for exercising or growing food, and more space to accommodate their family.

After the Pandemic, Will Consumers Want Larger Housing?

What Owners Like, Dislike About Their Homes When Sheltering

How to Work With Home Stagers Remotely

Many REALTORS® Report No Closing Delays

But home buyers in search of a big bargain may not find one. Nearly 75% of REALTORS® report that their sellers have not reduced listing prices to attract buyers. Housing inventories are near record lows and that reduced competition may be prompting more sellers to stand firm on their home prices.

View NAR’s weekly housing market monitor.Source: National Association of REALTORS®

Posted in: Uncategorized

Post navigation

« WHATS NEW 2020 in REAL ESTATE
NAR: Healthy Q1 Home Price Gains Won’t Slow Down »

Account Login

Save your favorite properties & searches.

Don't have an account?
Sign Up Here

Contact Us

Perrella & Associates
1932 E 2nd Ave
Hibbing, MN 55746
Phone: 218-262-5582
Fax: 218-262-5584
MLSMLS


Copyright 2017 Perrella & Associates
Website by: Dedicated Web Services, LLC.
Log in