Posted To: MND NewsWire

There was apparently a certain profile of home buyers before the pandemic struck and a different one after it began. The National Association of Realtors’® (NAR’s) 2020 Profile of Home Buyers and Sellers, an annual report on demographics, preferences and experiences of buyers and sellers across America shows COVID-19 caused several shifts in America’s housing market over the past eight months. Changes in the behaviors of home buyers and sellers were especially notable as buyers’ usual tendencies altered, and the urgency to sell accelerated. Buyers purchasing after March were more likely to purchase a multi-generational home – 15 percent versus 11 percent who purchased before April. 14 percent of buyers who purchased in April or later said their transaction was delayed due to COVID-19 Sellers…(read more)

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Source: Mortgage News Daily