One-quarter speeding up their moving timelines
Combine record-low interest rates with a pandemic that has forced many people to work from home and the result is an increasing number of Americans are considering moving.1 Here are the numbers from a Redfin survey:
- In July, Redfin asked 1,000 people who were planning to a buy a home in the next 12 months whether or not the COVID-19 pandemic had impacted their plans. Three quarters of them said it did.
- One quarter said the pandemic had forced them to speed up their moving timelines.
- The biggest factors driving buyers’ change of plans? Low mortgage rates (55%), spending more time at home (52%), working from home more often (40%), and the desire to live somewhere less expensive (25%).
In this unique business climate, I am here to answer any questions you may have.
1Dana Anderson, “Survey: 25% of homebuyers are moving—or moving sooner than planned—because of the pandemic,” Redfin, last updated August 5, 2020.