How Coronavirus Has Impacted Home Buying

Posted by R_yn5_@_ul on

Impacts of Coronavirus

The COVID-19 pandemic has impacted everyone in many different ways. From having to quarantine, working from home, schooling from home, workouts from home, it’s easy to say that people are spending more time in their homes. This has led many people to wanting a home with more space or designated areas for certain activities. We have gathered some statistics on this topic.

Changes in Planning to Buy a Home

Three-quarters of homebuyers who plan to buy a home within the next 12 months say the coronavirus pandemic has impacted their home buying plans: 25% said it caused them to move or speed up their timeline, 20% said it caused them to delay moving plans and 17% are now looking for a less expensive home. Specifically:

  • 16% said the pandemic has caused them to want to move
  • 15% said it caused them to move sooner than originally planned
  • 6% chose both options

Home Preference Changes

  • 21% want a designated area to work from home
  • 21% want more outdoor space
  • 10% of respondents now want a bigger home
  • 7% want a designated space for children to learn from home

Why Changed Plans?

  • Of people planning to move, 55% said low mortgage rates are a factor in their changed plans
  • 52% said spending more time at home is a factor
  • 40% said working from home contributed to their desire to move

If the Coronavirus pandemic has caused your family to be spending more time at home and you’re now thinking about looking for a home with more space, Rountree Realty is always here to answer any questions you may have and help achieve your real estate goals during these crazy times.

***List Your Home TODAY***

Posted by R_yn5_@_ul on

 

Good Afternoon Everyone, 

I hope everyone is having a great week! Today’s topic of discussion – SELLING Your Home NOW! 

Why do you think right now is a good time to sell your home? Maybe you’ve heard the real estate market is doing well? Or maybe you’ve had a friend or family member sell their home and have positive equity? Both of those are good reasons to sell, but here are 5 top reasons to SELL your home TODAY! 

1.) Low Mortgage Interest Rates! – Right now you can borrow money to purchase a home with record low interest rates! You may think well isn’t this a reason for a buyer to purchase a home? You’re correct, but this is a HUGE benefit for sellers. Right now Realtors like myself have buyers just waiting for homes to hit the market. Inventory is extremely low and the real estate market needs your home to be listed for sale TODAY! 

2.) Home Prices are on the Rise! – Home prices are continuing to rise throughout the United States. In 2017 we finished out the year with a 5.5% year to year increase with home values on the rise! 

3.) Millennials! – Millennials are ready to purchase a home! With an economy on the rise, millennials are in the position to purchase one of the best investments! They’re graduating college, starting careers and getting married! Perfect time in their life to invest in a home. 

4.) Money in Savings! – Not all, but some people are finally able to have money in savings!. They have made it through the hard times and feel stable with their finances. That being said, a lot of people are starting to look into purchasing a home. 

5.) Low Inventory- I discussed a little bit of this topic with # 1 and Low Interest Rates. Inventory is EXTREMELY low. I have a portfolio of buyers who are just waiting for the average family home to hit the market! They’re preapproved and ready to go! All we need is a home like yours to be listed for sale! 

If you have any questions about listing your home or purchasing a home, I would be more than happy to sit down with you and discuss your real estate needs. As always I’m here to help every step of the way! 

Duke Rountree – Info@HomesForSaleOcalaMarion.com – (352) 572-1739