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A new survey from the National Association of Realtors weighted towards buyers and sellers in metro areas heavily hit by the coronavirus has found indications many would be ready to visit an open house today, despite the pandemic.
Sixty-five percent of those who attended an open house within the last year would do so now without hesitation, the May 20 survey found. A further 20 percent would if medical experts or government officials said it was OK. Open houses were seen as less risky than visiting retail stores – 74 percent said they were ready to do that – while only 48 percent said they’d be ready to attend a convention.
That figure compares to a similar NAR survey on May 6 of 547 likely buyers which found 56 percent were ready to visit an open house.
“The real estate industry – and our country – has endured some very challenging times for several months, but we’re seeing signs of progress and we are earnestly hoping the worst is behind us,” NAR President Vince Malta, broker at Malta & Co. in San Francisco, said in a statement. “While we celebrate Homeownership Month, we embrace today’s version of homeownership and the unique paths homeowners take to realize their dream. For prospective buyers, the desire to own a home remains strong and the guidance, expertise and professionalism Realtors provide is more important now than ever.”
NAR talked to 578 likely buyers, 402 of whom were in metro areas like Boston, Springfield and Worcester that had been hit hard by COVID-19, and 462 likely buyers, 301 of whom were in hard-hit metros. Fifty-three percent of the 1,040 total respondents said they could envision themselves buying or selling a home without ever physically stepping inside a home or having prospective buyers visit, thanks to virtual tours and other home marketing technologies.
The data was released as another national survey, this time of renters, suggests many consumers in the housing market still see value in physically touring a new place to live before they commit. The survey of 3,500 American Rent Cafe users found 83 percent would take a self-guided tour of an apartment if it was available. The two most important reasons cited were the ability to view the space at their own pace and the ability to practice social distancing.
