A Day When Americans Can Return to Work
- Taking a moment to reflect upon what we’ve heard from historical leaders can teach us a lot about getting through the many challenges we face today.
- We’re all eager for the day when every American can safely return to work. That day is coming. Timing is everything. Patience is essential.
- Our courage, strength, and unparalleled resilience will get us there.
Yes, Americans are still buying and selling homes
One of the questions we’re asked almost on a daily basis is “How’s the real estate market?” Most people we speak with assume that, because of the pandemic, it’s come to a screeching halt and that prices have plummeted.
Neither of these assumptions are true. In fact, people are still buying (homes for sale)and selling homes. We’re not seeing the volume of activity that we usually see in the spring market, but the market is not stagnant.
Prices have remained much the same as they were before the onset of the pandemic, much to the dismay of (homes for sale) homebuyers. Home sellers are digging in and few are willing to take rock-bottom (homes for sale) offers.
It’s the low interest rates, however, that keep homebuyers in the market.
How does real estate work in a country under attack by a virus? It’s different, that’s for sure. But the workarounds to maintain social distancing have actually turned out to be quite efficient.
Viewing homes for sale
A recent Realtor.com survey finds that nearly 60 percent of homes for sale sellers say they would be fine with holding an open house.
Then, there are others who put restrictions on showings. For that reason, many homes for sale are now shown virtually by the agent or with 3-D tours.
And, they’re being embraced by homebuyers. One of the big real estate (homes for sale) portals says that they are seeing an almost 500 percent increase in requests for agent-led video tours, while another portal is seeing a nearly 200 percent increase in requests for 3-D home tours.
But, will they actually buy a home they’ve only toured virtually? According to the aforementioned Realtor.com survey, 25 percent of homebuyers aren’t opposed to buying a homes for sale they have never toured in person.
The number of homes for sale showings across the country took a dip on April 12, but has been steadily rising since then (an increase of nearly 24 percent as of April 26).
The entire home buying and selling homes for sale process has gone virtual, from homes for sale showings to inspections, appraisals and closings.
Please reach out if you have any questions about the homes for sale process and how we can help you navigate it during the pandemic.
93% Believe Homeownership Is Important in Attaining the American Dream
Americans continue to believe that homeownership is important in achieving the American Dream – Homes for Sale. A recent survey by NeighborWorks America reported that:
“Owning a homes for sale remains a core element of the American Dream.”
When asked “How important a part of the American dream is owning a home (homes for sale)?”
- 18% of those surveyed said it was the most important part
- 53% of those surveyed said it was very important
- 22% of those surveyed said it was somewhat important
Homeownership and Financial Stability
The survey also revealed that 81% of Americans believe that owning a homes for sale leads to a family being more financially stable. This feeling was reiterated by Zillow Senior Economist Aaron Terrazas who, in a recent press release, explained: