Emerging Real Estate Behaviors During the Pandemic

The pandemic has changed many of our behaviors, from having a full stock of toilet paper at all times to how we buy a home. On today’s podcast, we discuss several behaviors identified in recent findings from the National Association of Realtors when it comes to buying a home.

What has shifted when it comes to homebuying in this season of staying at home? Your home plays a big part in what your life looks like, especially now! How has that changed the perspectives and behaviors of homebuyers? 

Buyers seem to be moving quick when it comes to securing a home. Are they rushing? Or is there a need to move faster than normal? Inventory is low, so there is an urgency to move forward on a home that you like. 

Some of the search criteria changed has for buyers. Many now want extra space for a home office, room to grow a garden or exercise in the yard, and additional space for family members. All of our priorities have changed a bit in the pandemic, but the primary desire being: more space at home. What other things have been hot ticket items lately? 

If you work from home now, you don’t worry about the commute. Less people are concerned about the drive they no longer have to take but want to make sure the internet connection is strong. Places like Knightdale or Fuquay-Varina may be good spots to consider in the Triangle. 

When you buy a house, are you thinking about the possibility of multi-generational living? Or are you factoring in your furry family members to make sure your pets are getting what they need? 

Are first time homebuyers more likely to jump in right now? With apartments feeling like tight quarters or the apartment amenities no longer available, the younger generation may be considering the possibility of purchasing a home. The lower interest rates certainly help! For current homeowners, are they also considering making a change sooner than originally anticipated? 

Listen to the entire episode or click on the timestamps below to skip to a particular pandemic behavior. 

0:38 - Are these real estate behaviors identified in the pandemic true in the Triangle? 

1:05 - Buyers are rushing.

3:10 - Wish lists have shifted.  

8:21 - Less concerns over commutes. 

9:23 - Multi-generational housing may become more common. 

10:38 - Pets might drive purchasing decisions. 

13:57 - First time buyers may increase. 

16:34 - People may move instead of stay in the same home.  

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Angie Cole - Contact - Call: 919-538-6477

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