inception-app-prod/NWIwOGNjYTgtNzI2OS00ZWNjLWI1YzAtNGY2ZTVlYmJlZTY2/logo/2020/02/alex-logos.png
  • Home
  • Local Listings Search
  • Featured Listings
  • What is my home worth?
  • Buyer Resources
    • 4 Questions to Ask Before Buying a Home
  • Seller Resources
    • 4 Questions to Ask Before Selling a Home
  • Blog
  • About
  • Contact
  • New & Pre-Construction Homes
  • Customer Success Stories
Alex Perez
inception-app-prod/NWIwOGNjYTgtNzI2OS00ZWNjLWI1YzAtNGY2ZTVlYmJlZTY2/content/2020/09/bndpd29nbmp5dGd0bnppMm9zMDB6d25qbHdpMXl6YXRuZ3ky.jpg
754-244-9620
info@alexperezrealty.com
Sign In
Sign Up
inception-app-prod/NWIwOGNjYTgtNzI2OS00ZWNjLWI1YzAtNGY2ZTVlYmJlZTY2/logo/2020/02/alex-logos.png
  • Home
  • Local Listings Search
  • Featured Listings
  • What is my home worth?
  • Buyer Resources
    • 4 Questions to Ask Before Buying a Home
  • Seller Resources
    • 4 Questions to Ask Before Selling a Home
  • Blog
  • About
  • Contact
  • New & Pre-Construction Homes
  • Customer Success Stories
inception-app-prod/NWIwOGNjYTgtNzI2OS00ZWNjLWI1YzAtNGY2ZTVlYmJlZTY2/logo/2020/02/alex-logos.png
inception-app-prod/NWIwOGNjYTgtNzI2OS00ZWNjLWI1YzAtNGY2ZTVlYmJlZTY2/content/2020/09/20200716-kcm-share1.jpg

Does Your Home Have What Buyers Are Looking For?

inception-app-prod/NWIwOGNjYTgtNzI2OS00ZWNjLWI1YzAtNGY2ZTVlYmJlZTY2/content/2020/09/bndpd29nbmp5dGd0bnppMm9zMDB6d25qbHdpMXl6YXRuZ3ky.jpg
Alex Perez,09/26/2020

There’s great opportunity for today’s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. According to Javier Vivas, Director of Economic Research at realtor.com:

“Sellers continue returning to the market at a cautious pace and further improvement could be constrained by lingering coronavirus concerns, economic uncertainty, and civil unrest.”

For homeowners who need a little nudge of motivation to get back in the game, it’s good to know that buyers are ready to purchase this season. After spending several months at home and re-evaluating what they truly want and need in their space, buyers are ready and they’re in the market now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR) explains:

“A number of potential buyers noted stalled plans due to the pandemic and that has led to more urgency and a pent-up demand to buy…After being home for months on end – in a home they already wanted to leave – buyers are reminded how much their current home may lack certain desired features or amenities.”

The latest Market Recovery Survey from NAR shares some of the features and amenities buyers are looking for, especially since the health crisis has shifted many buyer priorities. The most common home features cited as increasingly important are home offices and space to accommodate family members new to the residence (See graph below):

Does Your Home Have What Buyers Are Looking For? | Keeping Current Matters

The survey results also show that among buyers who indicate they would now like to live in a different area due to COVID-19, 47% have an interest in purchasing in the suburbs, 39% cite rural areas, and 25% indicate a desire to be in small towns.

As we can see, buyers are eager to find a new home, but there’s a big challenge in the market: a lack of homes available to purchase. Danielle Hale, Chief Economist at realtor.com explains:

“The realtor.com June Housing Trends Report showed that buyers still outnumber sellers which is causing the gap in time on market to shrink, prices to grow at a faster pace than pre-COVID, and the number of homes available for sale to decrease by more than last month. These trends play out similarly in the most recent week’s data with the change in time on market being most notable. In the most recent week homes sat on the market just 7 days longer than last year whereas the rest of June saw homes sit 2 weeks or more longer than last year.”

In essence, home sales are picking up speed and buyers are purchasing them at a faster rate than they’re coming to the market. Hale continues to say:

“The housing market has plenty of buyers who would benefit from a few more sellers. If the virus can be contained and home prices continue to grow, this may help bring sellers back to the housing market.”

Bottom Line

If you’re considering selling and your current house has some of the features today’s buyers are looking for, reach out to Alex Perez. You’ll likely be able to sell at the best price, in the least amount of time, and will be able to take advantage of the low interest rates available right now when buying your new home.

Print Details
Previous post
Next post
The Weston, FL Housing Market Update #44 – August 1 – 31, 2020
Buying A House With Bad Credit

Office

Coldwell Banker Residential Real Estate
2690 Weston Rd Ste 101Weston
FL 33331
954-384-0099
info@alexperezrealty.com
https://www.coldwellbanker.com/Coldwell-Banker-Realty-12629c/Alex-Perez-7415069a

Essentials

  • Home
  • Local Listings Search
  • Featured Listings
  • What is my home worth?
  • Buyer Resources
  • 4 Questions to Ask Before Buying a Home
  • Seller Resources
  • 4 Questions to Ask Before Selling a Home
  • Blog
  • About
  • Contact
  • New & Pre-Construction Homes
  • Customer Success Stories
  • Country Isles

Consumer Protection & Privacy

  • Accessibility
  • DMCA Compliance
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information.
inception-app-prod/NWIwOGNjYTgtNzI2OS00ZWNjLWI1YzAtNGY2ZTVlYmJlZTY2/logo/2020/02/alex-logos.png

© 2021 All rights reserved

Created with Placester

Sign in

Sign in with your email address

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Enter your email address

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Your password has been successfully reseted.
Go to the homepage
Sorry something went wrong
Please try again.
Try again
Send
Success! Your message was sent!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Please wait...

Account Verified!
You may now log in into your account
Go to the homepage
Error
Please try again.
Go to the homepage

Share this listing

Copy Link