Predicting the housing market’s future is always an inexact science. Trying to factor in the effects of a global health crisis makes it even more difficult. But one way to get a feel for where things might be headed is to ask potential home buyers and sellers about their plans, concerns, and perceptions. After all, what happens next is largely determined by what they do.
That’s why recent surveys showing Americans are still interested in pursuing their plans offer hope for a quick turnaround once stay-at-home orders are lifted. For example, one new survey found that a majority of respondents indicated that they planned to get back into the market within six months, with even more saying they’d be ready to buy or sell a home within a year. Naturally, though, their plans come with some concerns. Among them, job security ranks high, along with possible exposure to the coronavirus.
Lack of Concern
However, market factors seem to be less of a worry, with fewer participants expressing concern about a lack of homes for sale or falling prices. Overall, survey respondents seem eager to resume their plans and willing to adapt to new technology and safety measures. See the detailed article about the survey here. (source)
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