More than 3 in 4 Realtors® currently working with sellers this week – 76% – reported their clients haven’t reduced listing prices to attract buyers, according to a new survey from the National Association of Realtors®. That’s up from 74% who said the same a week ago.
“Nearly 70% of Americans have secure employment and those interested in purchasing homes are looking at the enticing mortgage rates,” said NAR Chief Economist Lawrence Yun. “One in five potential buyers have dropped out of the market due to job loss concerns, hopes are the massive financial stimulus package can help replace a good portion of lost income until the economy steadily reopens. More home sellers are needed to relieve the acute inventory shortage.”
NAR’s latest Economic Pulse Flash Survey – conducted April 26-27 – asked members how the coronavirus outbreak has impacted the residential and commercial real estate markets. Several highlights include:
NAR also today released its 2020 Realtors® and Sustainability Report, which surveyed Realtors® about sustainability issues facing the real estate industry. Several highlights include:
“As many families are currently spending more time at home, some are taking on improvement projects involving sustainable features,” said Jessica Lautz, NAR vice president of demographics and behavioral insights. “Some buyers are also deciding to purchase homes with environmentally-friendly components. In both instances, these households look to either reduce utility costs or increase personal comfort within their home.”
View NAR’s 2020 Realtors® and Sustainability report here:
View NAR’s Economic Pulse Flash Survey report here:
View NAR’s Weekly Housing Market Monitor here:
The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.