8/8/20 | Central Washington | Central Washington Sentinel
THE BOTTOM LINE:
Changes in Economy and Real Estate Markets Impact Home Buyer Preferences Post-COVID
- Consumers Remain Optimistic About Home Buying in the Current Environment
- COVID-19 Moved Consumer Timelines toward Buying Sooner
- Larger Homes and Better Neighborhoods Motivated Some Buyers to Look for Higher Priced Homes
- Additional Savings, Financial Security Concerns, and Economy Motivated Other Buyers to Look for Lower-Priced Homes
- Lower Mortgage Rates Helped Buyers Reach for Larger, Higher-Priced Homes
- Sheltering At Home Helped Consumers Save More Money for a Down Payment
- Consumers More Willing to Commute Longer Distances Post-Pandemic
![2020 Homebuyer Preferences [INFOGRAPHIC] | MyKCM](https://i0.wp.com/files.mykcm.com/2020/08/06112131/20200807-MEM-1046x1789.jpg?resize=1046%2C1789&ssl=1)
Some Highlights
- A recent study from HarrisX shows the current health crisis isn’t slowing down today’s homebuyers.
- Many buyers are accelerating their timelines to take advantage of low mortgage rates, and staying home has enabled some to save more money to put toward a down payment.
- Connect with your real estate agent today if your needs have recently changed and you’re ready to make a move this year.