Connect with us

Hi, what are you looking for?

The American Genius Real EstateThe American Genius Real Estate

Real Estate Big Data

This week, home buyer disinterest tripled from last week

(REAL ESTATE) Home buyer interest took a dip this week, as did how current sellers will allow their homes to be viewed. The air of uncertainty remains.

home buyer

One in two Realtors surveyed early this week said home buyer interest has dipped in light of the COVID-19 outbreak, tripling from last week when only 16% said the same. What a difference a week makes.

According to the National Association of Realtors survey, 69% of Realtors said there’s no change in the number of homes on the market during the pandemic, down from 87% the week prior.

“The decline in confidence related to the direction of the economy coupled with the unprecedented measures taken to combat the spread of COVID-19, including major social distancing efforts nationwide, are naturally bringing an abundance of caution among buyers and sellers,” said NAR Chief Economist, Dr. Lawrence Yun.

“With fewer listings in what’s already a housing shortage environment, home prices are likely to hold steady. The temporary softening of the real estate market will likely be followed by a strong rebound once the economic ‘quarantine’ is lifted, and it’s critical that supply is sufficient to meet pent-up demand.”

The survey also asked members about the stock market, mortgage interest rates, and consumer behaviors. Fully 45% said the stock market correction and lower mortgage rates balance out, not impacting buyer behavior.

Advertisement. Scroll to continue reading.

Only 40% said home sellers haven’t changed how their home is viewed while on the market, compared to nearly 80% just one week ago.

The majority of sellers have decided not to make a change in their listing status, but this week saw an increase in home sellers pulling their listing from the market and opting to refinance instead.

Additionally, ShowingTime has reported a major drop in real estate showings compared to this time last year:

Every professional on the planet right now is wondering what’s next, and the answer depends exclusively on how quickly we can get a handle on COVID-19. Realtors and brokers should keep a finger on the pulse of the shifting economic data – it’s the only way to keep your eyes on the road in this fog of uncertainty.

One of the best examples we’ve seen of a practitioner offering detailed information to consumers during this crisis comes from Cynthia Fedor in Austin, Texas – review her recent email to shape your own future efforts.

Advertisement. Scroll to continue reading.

Lani is the COO and News Director at The American Genius, has co-authored a book, co-founded BASHH, Austin Digital Jobs, Remote Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.


The Daily Intel
in your inbox

Subscribe and get news and EXCLUSIVE content to your email inbox.




If you have to start an argument then you need the right understanding of what is convincing and what can be dismissed out of...

Real Estate Technology

Real estate transactions are being targeted by cybercriminals. One company just got sued by customers for being hacked. Are you safeguarding your company and...

Real Estate Marketing

Life isn’t a popularity contest... Until it is. Influencers have a secret edge on all of us, but there are multiple ways to get...


Whether you're a veteran or a novice, there are always things to learn about speeding up a real estate closing or transaction.

The American Genius' real estate section is honest, up to the minute real estate industry news crafted for industry practitioners - we cut through the pay-to-play news fluff to bring you what's happening behind closed doors, what's meaningful to your practice, and what to expect in the future. We're your competitive advantage. The American Genius, LLC Copyright © 2005-2022