Desire to own a home remains strong during COVID-19, says NAR

2 in 5 buyers are willing to purchase a home even without setting foot inside

Desire to own a home remains strong during COVID-19, says NAR

Growing homebuyer demand continues to aid the US housing market's recovery from the COVID-19 outbreak.

A series of biweekly national surveys by the National Association of Realtors showed that the real estate industry had seen a significant improvement in the past few weeks. Despite the ongoing pandemic, 65% of respondents said they would attend an open house or tour a home for sale without hesitation.

“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,” said NAR President Vince Malta.

NAR also found that agents matter now more than ever, as 47% of buyers and 53% of sellers said they value an agent's guidance, especially during COVID-19. More than half of buyers (54%) and sellers (62%) considered buying and selling real estate as an essential service.

Two in five buyers were also willing to buy a home without a visit, with 41% saying that they could envision purchasing a home without ever physically stepping inside. The same goes for 53% of sellers, who said they could imagine selling without ever having prospective buyers physically touring the home.

“While we celebrate homeownership month, we embrace today’s version of homeownership and the unique paths homeowners take to realize their dream," Malta said. "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.”