COVID -19 Seen Altering Preferences for Home Features
WASHINGTON, DC — Potential home buyers are seemingly altering their preferences for specific home features as a result of the COVID-19 pandemic, according to a newly released survey conducted by the National Association of Realtors.
The NAR survey, whose results were released in mid-May, found that features that home-buying prospects identified as “important” now include home offices, yard space for exercising or growing food, and space to accommodate family members – findings that could have important implications for residential remodelers, including kitchen/bath design pros, in the future.
About 1 in 8 realtors (13%) reported buyers “have changed at least one home feature that’s important to them due to COVID-19,” the Washington, DC-based NAR reported, adding that five percent of the realtors surveyed also said their clients are shifting neighborhood preferences from urban areas to suburban areas due to the novel coronavirus.
More than three in four potential sellers (77%) are preparing to sell their homes following the end of stay-at-home orders, with half completing do-it-yourself home improvement projects, the NAR said.