Homebuyers Cautious But Optimistic Despite Coronavirus Pandemic

Between economic concerns, shelter-at-home-orders, and fluctuating mortgage rates, many homebuyers are not keen on buying a home right now. But one-third of homebuyers who were looking at properties on Point2 Homes said that they were still looking to buy in the next six months, according to the company’s survey. Most homebuyers responded with uncertainty or cautiousness, but only 6 percent said that they would stop looking due to the coronavirus. And almost half had no particular concerns related to COVID-19. See the rest of the survey results, including how homebuyers are changing their selection process. 

With the new measures aimed at limiting the spread of the Covid-19 and the hourly updates keeping us informed, it seems the world is rapidly changing right before our eyes. At Point2 Homes, we wanted to analyze the ripples of these changes on the real estate market, but mostly their effect on homebuyers’ confidence and the changes they are prepared to make to adapt to the current situation.

To gauge homebuyers’ reaction to the outbreak and to see how they feel about the homebuying process and the current changes, we conducted a flash survey of 2,900 visitors that are searching for properties on Point2 Homes, one of the largest real estate marketplaces in North America. We asked about their short-term and long-term buying intentions, about the challenges they are encountering and also about the changes they plan to make.

Despite the present situations, American homebuyers are mostly still keeping an eye on the market, with those who are actively searching stating that they will focus more on online pictures and virtual tours as a safety precaution.

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