Currently Reading

Will Housing Availability Improve? Homebuyers Increasingly Say Yes

Advertisement

Will Housing Availability Improve? Homebuyers Increasingly Say Yes


May 1, 2020
Couple who bought home
By alfa27

The number of homebuyers who expect their housing search to become easier in the coming months hit 25 percent, the highest Q1 reading in three years, according to the latest NAHB Housing Trends Report. Though the survey went out from March 17-28 before the full scope of the coronavirus pandemic was realized in the U.S., it still reflects a time of uncertainty. NAHB says that intensifying stay-at-home orders and social distancing may have changed the results. Now that the housing demand is returning, professionals will see if the numbers hold up as the country reopens.

According to the latest Housing Trends Report (HTR), the share of prospective home buyers expecting their house search to get easier in the months ahead rose to 25% in the first quarter of 2020, up from 16% and 22%, respectively, in the first quarters of 2018 and 2019. This rise marks the third consecutive year-over-year increase in the share of buyers expecting housing availability to improve. Conversely, the share of buyers who think availability will worsen (or stay the same) has dropped to 62%, compared to 73% and 67% in the first quarters of 2018 and 2019.

The timing of the data collection for this report is highly consequential. The online survey was in the field from March 17 through March 28, the early stage of the COVID-19 crisis in the US. About 12 million people filed for unemployment benefits in the two weeks immediately after data collection closed. For this reason, we assess that responses in this quarter’s report mostly reflect people’s views prior to the full impact of stay-at-home orders and social distancing restrictions imposed by local and state governments.

Read More
 

Related Stories

Multifamily

Rent Burden Is Greater for Minority Households

Even in the most affordable cities where the rent burden is low, some groups of renters are paying relatively more for housing

Demographics

What Does the Typical Seller Look Like?

The increasing usage of remote viewing, 3D tours, and other digital options appears to be complementing the services of a real estate agent rather than replacing them as 82% of sellers used an agent to sell their home.

Demographics

The Birth Rate Is Nearly Unbelievable

This decline also has implications for housing and homeownership

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.