How Has COVID Impacted Home Buyer Preferences?

Filed in Disaster Response, Economics, IBS, Trends by on March 19, 2021 0 Comments

NAHB’s latest edition of What Home Buyers Really Want examines home buyer preferences across the industry, including the impact that COVID-19 may have on the types of features, size and location of homes that buyers are seeking.

Although 67% of buyers noted that COVID has had no impact on their preferences, a closer look at buyer demographics shows that those households with at least one telecommuter and one virtual student are more likely to have different preferences in the wake of the pandemic.

home buyer preferencesOne of the factors some buyers have altered opinions on is the size of the home. About one in five buyers is now interested in a larger home, while 12% would prefer a smaller one. Among households with at least one telecommuter and one virtual student, preference for a larger home jumps to 35%, or about one in three buyers, compared to 10% among households with neither.

See more in this Eye on Housing post from Rose Quint, NAHB’s assistant vice president of survey research. Quint also shared additional findings during the IBSx presentation “Home Trends, Buyer Preferences & Most Likely Features for 2021,” which is available on demand for IBSx registrants until June 30.

Registration — free for NAHB members — is still available through March 31. Sign up today.

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