Housing & Realestate

2020 Homebuyer Preferences [INFOGRAPHIC]

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

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.