Homebuyers and Sellers: What Do They Need?

PAR CEO Mike McGee recently spoke with Dr. Jessica Lautz, vice president of demographics and behavioral insights at NAR, about the annual Profile of Homebuyers and Sellers report and trends NAR is seeing in the market.

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NAR Survey Shows Swift Rebound of Activity

“The residential market has seen a swift rebound of activity as numerous states have begun to ease mandatory stay-at-home orders,” said Lawrence Yun, NAR’s chief economist. “Many potential buyers and homesellers were kept at bay in the initial stages of the coronavirus outbreak, but Realtors® nationwide were able to quickly pivot, embracing technology and business practices to ensure the homebuying process continued in a safe manner.”

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Pent-Up Demand for Homes Expected Following Pandemic

“Coming out of this, I believe we’re going to see a lot of pent-up demand. People will have spent a lot of time in their homes, thinking ‘how can I remodel?’ or ‘I really need to move to find another home that works better for my family’,” according to Dr. Jessica Lautz, vice president of Demographics and Behavioral Insights at the National Association of Realtors®.

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