The COVID-19 pandemic has impacted everyone in a multitude of ways. How does this impact buying and selling homes? Let’s take a look at the numbers!
After the pandemic hit, buyers want to be closer to loved ones and were even 4% more likely to purchase a multigenerational home! And after all that time at
home, a lot of sellers wanted bigger homes. Their number one reason for selling was that their home was too small!
How does this impact buyers? Higher prices and more suburban homes. After the pandemic hit, the average home prices nationwide went up from $270,000 to $339,000! Additionally, 23% of buyers purchased homes for $500,000 or more. Buyers were also more likely to move to the suburbs. Suburban purchases went up from 50% to 57% during
Whether you decide to purchase or sell your home during this time or not, we hope to assist you in any way possible! Click here to view the current listings in the area and click here to view our agents for assistance on any questions you may have.
*information pulled from the National Association of Realtors*