Currently Reading

Buyers are Optimistic for Purchasing in 2021 as Pent-Up Demand Grows

Advertisement
Market Data + Trends

Buyers are Optimistic for Purchasing in 2021 as Pent-Up Demand Grows


January 28, 2021
couple smiling, home searching online
Photo: Prostock-studio

Stress brought on by 2020 may be fading for some 28 million optimistic Americans who are considering buying this year. According to a NerdWallet study in December 2020, 11% of 2,000 Americans surveyed said they plan to purchase a home in the next year, which translates to 28 million homebuyers. Americans are becoming more optimistic about this year’s housing market, according to NerdWallet’s 2021 Home Buyer Report, but only roughly 6 million homes typically sell in a year. Those who could not purchase in 2020 are hoping to make 2021 their year. Nearly 39% of those planning to buy last year could not, but it shows there is steady pent-up demand.

“Maybe one-quarter that number of people will actually buy homes in 2021,” says Holden Lewis, NerdWallet home and mortgage expert. “Millions of people are eager to own, and the pent-up demand keeps growing. To be successful in 2021, buyers will need to prevail against competing offers, rising prices and cautious lenders.”

Key findings
The coronavirus pandemic interrupted, but didn’t quash, homebuying plans: 39% of Americans who had planned to purchase a home in 2020 postponed or canceled those plans due to the pandemic or related effects, while 43% fulfilled those plans or were in the process of doing so at the time of the survey.

Lack of supply made home-shopping hard: Nationally, active listings were down 26% in 2020 compared with 2019, according to NerdWallet analysis, making competition tough for buyers braving the market. 

Read More
 

Related Stories

Housing Markets

Where Are Home Prices Decreasing?

As home prices increase 15% year over year, listing prices are dropping in a select few metros across the country. Realtor.com’s latest list price…

Market Data + Trends

New-Home Sales Outpace Existing Home Sales in January

As existing home sales inched forward in January by 0.6%, new-home sales grew at a stronger rate of 4.3%, according to data from the Census Bureau…

Market Data + Trends

Is the Pandemic Entirely to Blame for Record-Low Housing Inventory?

Although it has appeared that the suburban shift resulted directly from the pandemic, data shows this shift has been ongoing for several years,…

Advertisement
Advertisement

More in Category




Advertisement
Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.