January 18, 2021

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Anything but ordinary

1 in 5 Buyers Wants Designated Space to Work from Home

seventy five% of homebuyers surveyed said the pandemic modified their ideas: twenty five% boosted their...

seventy five% of homebuyers surveyed said the pandemic modified their ideas: twenty five% boosted their timelines, twenty% slowed their timelines and seventeen% now want a considerably less costly property.

SEATTLE – A few-quarters of homebuyers who strategy to purchase a property inside the upcoming twelve months say the coronavirus pandemic has impacted their homebuying ideas: twenty five% said it brought about them to transfer or velocity up their timeline, twenty% said it brought about them to delay relocating ideas and seventeen% are now searching for a considerably less costly property. Specifically:

  • sixteen% said the pandemic has brought about them to want to transfer
  • 15% said it brought about them to transfer quicker than originally planned
  • six% chose both equally choices

“Somewhat counterintuitively, the coronavirus-pushed economic downturn is propping up the housing industry,” says Redfin Main Economist Daryl Fairweather, creator of the modern review. “Homebuyer desire is surging irrespective of GDP taking a historic nosedive in the second quarter, largely mainly because People worth the property additional than ever and are eager to prioritize housing even as they lower back on other expenditures. Additionally, the Fed is making use of small interest prices to promote the overall economy, which is giving prospective buyers additional obtaining electricity and boosting property sales.”

Property choices

  • 21% want a specified space to work from property
  • 21% want additional outdoor space
  • 10% of respondents now want a even larger property
  • 7% want a specified space for small children to learn from property

Why modified ideas?

  • Of people today arranging to transfer, fifty five% said small house loan prices are a factor in their modified ideas
  • fifty two% said paying additional time at property is a factor
  • 40% said doing work from property contributed to their wish to transfer

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