People on the Move Could Mean 3.5 million in New-Home Demand

Elyse
People on the Move Could Mean 3.5 million in New-Home Demand

The America at Home Study (https://americaathomestudy.com/) and the home that was built based on its findings give you a look at how the pandemic has changed people’s perceptions of home and what they want in their future homes. These include adaptable space, home offices, better technology, and energy efficiency. 

But beyond homeowners’ wish lists, the research also points to emerging opportunities for you as a REALTOR®. 

The data suggest that with so many deciding to speed up their pre-pandemic moving plans, there may be a new-home demand of 3.5 million. That’s potential business for you, and it’s worth keeping an eye out for such opportunities in your market. 

America at Home Study data from October 2020 indicates that less than half (45%) of homeowners plan to stay in their current homes. Demand also may come from renters, who are willing to make trade-offs to get into a home. 

Fifty-two percent of renters are willing to compromise on their desire for access to open space and a private yard. Others (46%) say they’re willing to look at different, less expensive locations, go rural (41%), and consider older resale homes (41%). 

Keep in mind that every age group – from Millennials to Baby Boomers – prefers single-family living.