Looking Back on 2020 to Spring 2022
For the time period of late 2020 to approximately April 2022, there was quite a real estate market in the U.S. Now that we are going on 9 months back in a more normal market, it's worth a look back on that frenzied time.
A recent Home Buyer Survey reveals those buyers during that incredible real estate cycle:
-
80% of home buyers had to compromise on their priorities. The No. 1 priority for half of the buyers (50%) was finding a home in a good neighborhood, but 1 in 5 (20%) settled for a home in a worse location.
-
80% of buyers made more than one offer, with 41% making five or more. More than 1 in 3 buyers (36%) made an offer on a home sight unseen.
Now that inventory is building up slightly, and days on the market have increased across the country, I see an opportunity for many buyers and Sellers. I think those who might have compromised their wants and needs, now taking a breath while shopping for what they might really have wanted in the beginning. This also makes way for opportunities for other buyers to purchase the homes that these buyers are now selling.
Keep an eye out for this trend.
To request materials such as our Buyers Guide, Sellers Guide a Real Estate Review of your Property, or our Naples Guide. Click Here.
