{"id":15441,"date":"2020-03-19T15:52:07","date_gmt":"2020-03-19T20:52:07","guid":{"rendered":"https:\/\/theamericangenius.com\/housing\/?p=15441"},"modified":"2020-03-19T15:52:07","modified_gmt":"2020-03-19T20:52:07","slug":"this-week-home-buyer-disinterest-tripled-from-last-week","status":"publish","type":"post","link":"https:\/\/theamericangenius.com\/housing\/big-data\/this-week-home-buyer-disinterest-tripled-from-last-week\/","title":{"rendered":"This week, home buyer disinterest tripled from last week"},"content":{"rendered":"

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. <\/p>\n

According to the National Association of Realtors survey<\/a>, 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. <\/p>\n

\u201cThe 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,\u201d said NAR Chief Economist, Dr. Lawrence Yun. <\/p>\n

\u201cWith fewer listings in what\u2019s 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 \u2018quarantine\u2019 is lifted, and it\u2019s critical that supply is sufficient to meet pent-up demand.\u201d<\/p>\n

\"\"<\/p>\n

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. <\/p>\n

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

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. <\/p>\n

\"\"<\/p>\n

Additionally, ShowingTime has reported<\/a> a major drop in real estate showings compared to this time last year: <\/p>\n

\"\"<\/p>\n

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.<\/p>\n

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<\/a> to shape your own future efforts. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

(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.<\/p>\n","protected":false},"author":2,"featured_media":13785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[91],"tags":[1234],"class_list":["post-15441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-big-data","tag-real-estate-news"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2018\/12\/wire-fraud-scams.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/15441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=15441"}],"version-history":[{"count":1,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/15441\/revisions"}],"predecessor-version":[{"id":15445,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/15441\/revisions\/15445"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/13785"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=15441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=15441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=15441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}