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A Quarter Of Pandemic Home Buyers Will Choose Their New Home Over Their Job If Asked To Return To The Office, According To Realtor com® Survey

Share this article Share this article SANTA CLARA, Calif., May 12, 2021 /PRNewswire/  When COVID-19 drove working professionals out of the office, it sparked a surge in home buying that is leading to some big decisions for homeowners as offices begin to reopen. After more than a year of working remotely, Americans have moved farther away from the office and are less willing to commute, according to ®.  Those pandemic purchases are leaving some new homeowners and companies in conflict about what s next. Nearly sixty percent of new homeowners, who purchased within the last twelve months, are working from home and 62% prefer to be. Despite it being the clear preference, only 48% have been told by their employer they can continue to work remotely. One quarter of those surveyed still have no definitive answer on whether or not they can remain fully remote indefinitely and another quarter already have plans to return.  

As Home Prices Rise, Here s What Buyers Can Do to Land a Deal

That said, the market is still very tight. I have been in the business for more than 30 years and I have never seen a market that has been this hot, said Glenn Brunker, president of Ally Home, which provides mortgage services and products. He recommends potential buyers take a pause and do a little soul searching. Take a look at your income stream, your employers, the location you are considering buying a home and make sure that the stability of your personal situation is one that warrants homeownership, Brunker said. If you are ready to buy, here s advice from experts on how to navigate the market right now.

Bidding Wars, Lack of Houses and Desperate Buyers: How to Navigate Buying a Home This Spring

There were periods of desperation, where we would make offers on houses and we weren t even sure if this one was the one, said 37-year-old Orellana, a nurse practitioner. In all, the couple saw more than 50 homes and wrote 17 offers before one was finally accepted. They beat out almost a dozen other offers and went about $40,000 over the asking price. They also blew past their initial budget by about $70,000, she said. Fortunately, it worked out and the Orellanas are happily settling in. Their experience is becoming the norm thanks to the limited supply of homes for sale across the country.

Bidding Wars, Lack of Houses and Desperate Buyers: How to Navigate Buying a Home This Spring

Bidding Wars, Lack of Houses and Desperate Buyers: How to Navigate Buying a Home This Spring
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Bidding Wars, Lack of Houses and Desperate Buyers: How to Navigate Buying a Home This Spring

Bidding Wars, Lack of Houses and Desperate Buyers: How to Navigate Buying a Home This Spring
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