Seventy-seven percent of potential sellers are preparing to put their homes on the market at the end of stay-at-home orders, with half of those using the time to complete do-it-yourself home improvement projects, according to the National Association of Realtors®’ latest Economic Pulse Flash Survey, which polls Realtors® on their clients’ behaviors during the pandemic.
“After a pause, home sellers are gearing up to list their properties with the reopening of the economy,” said NAR Chief Economist Lawrence Yun. “Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the stability that comes with these locked-in monthly payments into future years.”
Realtors® also reported that 13 percent of buyers changed at least one desired home feature that is important to them due to the pandemic. These included items such as home offices, yard spaces for exercising and growing food, and more space to accommodate family. Five percent of clients shifted their neighborhood preference from an urban area to a suburban area.