3 Bedrooms | 2 Bathrooms | More Than 2,000 Sq. Ft. | Fenced Backyard | Optional Boating AccessPresented by Michael Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesMore Space,
The Real Reason Behind The Pandemic's Buying Boom
Dated: January 23 2023
Views: 98
A lot changed when the COVID-19 pandemic began in early 2020. But while some of those changes – like remote work or the rise of grocery delivery services – made perfect sense, others weren't as clear. Take the housing market, for example. Home buying demand skyrocketed during the pandemic. But why? What about a global pandemic that would make Americans more interested in buying a home?
The initial explanation offered was that the pandemic caused us to spend more time at home, which resulted in people wanting more space. But was that it? A new study from Fannie Mae looks at what drove the pandemic-era home-buying boom. The study surveyed recent home buyers and asked if they accelerated their home purchase because of the pandemic. They found that most home buyers who moved during the pandemic bought when they did because of historically low mortgage rates, not COVID. Fifty-six percent of respondents said the pandemic neither accelerated nor slowed their home purchase timeline.
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Michael Downer
Your Luxury REALTOR®, Trusted Advisor — Quintessential Naples Team at Downing-Frye Realty®Michael "Mike" Downer is the REALTOR® you want in your corner when buying or selling real es....
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