{"id":954,"date":"2020-07-16T15:18:15","date_gmt":"2020-07-16T15:18:15","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=954"},"modified":"2022-07-04T23:47:43","modified_gmt":"2022-07-04T23:47:43","slug":"home-buyers-looking","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/home-buyers-looking\/","title":{"rendered":"Does Your Home Have What Buyers Are Looking For?"},"content":{"rendered":"
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Does Your Home Have What Buyers Are Looking For?<\/p><\/div>\n

There\u2019s great opportunity for today\u2019s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market.\u00a0According<\/a>\u00a0to Javier Vivas,\u00a0Director of Economic Research<\/em>\u00a0at\u00a0realtor.com<\/em>:<\/p>\n

\u201cSellers continue returning to the market at a cautious pace and further improvement could be constrained by lingering coronavirus concerns, economic uncertainty, and civil unrest.\u201d<\/em><\/p><\/blockquote>\n

For homeowners who need a little nudge of motivation to get back in the game, it\u2019s good to know that buyers are\u00a0ready to purchase<\/a>\u00a0this season. After spending several months at home and re-evaluating what they truly want and need in their space, buyers are ready and they\u2019re in the market now. Lawrence Yun,\u00a0Chief Economist<\/em>\u00a0at the\u00a0National Association of Realtors\u00a0<\/em>(NAR)\u00a0explains<\/a>:<\/p>\n

\u201cA number of potential buyers noted stalled plans due to the pandemic and that has led to more urgency and a pent-up demand to buy\u2026After being home for months on end \u2013 in a home they already wanted to leave \u2013 buyers are reminded how much their current home may lack certain desired features or amenities.\u201d<\/em><\/p><\/blockquote>\n

The latest\u00a0Market Recovery Survey<\/em>\u00a0from NAR\u00a0shares<\/a>\u00a0some of the features and amenities buyers are looking for, especially since the health crisis has shifted many buyer priorities. The most common home features cited as increasingly important are home offices and space to accommodate family members new to the residence\u00a0(See graph below)<\/em>:<\/p>\n

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What Homes Features are Important in a New Home Due to Covid-19<\/p><\/div>\n

The survey results also show that among buyers who indicate they would now like to live in a different area due to COVID-19, 47% have an interest in purchasing in the\u00a0suburbs<\/a>, 39% cite\u00a0rural<\/a>\u00a0areas, and 25% indicate a desire to be in small towns.<\/p>\n

As we can see, buyers are eager to find a new home, but there\u2019s a big challenge in the market: a lack of homes available to purchase. Danielle Hale,\u00a0Chief Economist<\/em>\u00a0at\u00a0realtor.com<\/em>\u00a0explains<\/a>:<\/p>\n

\u201cThe realtor.com June Housing Trends Report showed that buyers still outnumber sellers which is causing the gap in time on market to shrink, prices to grow at a faster pace than pre-COVID, and the number of homes available for sale to decrease by more than last month. These trends play out similarly in the most recent week\u2019s data with the change in time on market being most notable. In the most recent week homes sat on the market just 7 days longer than last year whereas the rest of June saw homes sit 2 weeks or more longer than last year.\u201d<\/em><\/p><\/blockquote>\n

In essence, home sales are picking up speed and buyers are purchasing them at a faster rate than they\u2019re coming to the market. Hale continues to say:<\/p>\n

\u201cThe housing market has plenty of buyers who would benefit from a few more sellers. If the virus can be contained and home prices continue to grow, this may help bring sellers back to the housing market.\u201d<\/em><\/p><\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019re considering selling and your current house has some of the features today\u2019s buyers are looking for, let\u2019s connect. You\u2019ll likely be able to sell at the best price, in the least amount of time, and will be able to take advantage of the\u00a0low interest rates<\/a>\u00a0available right now when buying your new home.<\/p>\n

 <\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
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THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

There\u2019s great opportunity for today\u2019s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market.\u00a0According\u00a0to Javier Vivas,\u00a0Director of Economic Research\u00a0at\u00a0realtor.com: \u201cSellers continue returning to the market at a cautious pace and further improvement could be… Finish Reading Does Your Home Have What Buyers Are Looking For?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[38,123,125,10,18,27,91,52,49,42,40,20,24,48,13,28,47,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/954"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=954"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/954\/revisions"}],"predecessor-version":[{"id":957,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/954\/revisions\/957"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}