The pandemic of 2020 has changed a lot of things and the housing market is no exception. Perhaps no one predicted that lockdowns, stay-at-home orders and a record number of employees working from home would cause a surge in buying and selling homes, but it has.
Along with this surge has come a change in the reasons why sellers list their homes as well as new trends for what buyers want in a home. Recently, Sibcy Cline President Robin S. Sheakley spoke to the Cincinnati USA Regional Chamber’s journal REALM to share some of her insights into the changes happening across the region. Here are some of her observations.
Staying at home forced people to take a good look at the space they live in.
“When the governor issued stay-at-home orders, you saw people really taking stock of their housing and understanding that if they’re going to be locked inside they want different things for their homes,” Robin told REALM, “People were realizing their houses were too big, too small, too urban, too rural, perhaps too open, perhaps too choppy.”
Home improvement efforts triggered a desire for something new.
“We saw a huge trend in home repair and home improvement, and then a lot of people started realizing I’m ready for something different,” Robin said.
The way people shop for homes has shifted drastically.
“There are plenty of stories of homes that were bought without people ever physically going in them, but purchased virtually,” she said. “With the amount of drone photography and videography now, there are all sorts of ways to get a really great sense of a property without standing there yourself.”
In addition to why people move and how they shop for homes, Robin noted a few trends in what buyers are looking for in homes. Here are the top trends she’s noticed:
The need for stress relief is greater than ever, so people are shopping for bathrooms that offer some space for retreat and relaxation.
In the era of working from home and online schooling, homeowners are in need of more space to separate and focus. “We’ve seen people converting bedrooms to offices a lot,” she said.
Outdoor Entertaining Space
The need for social distancing in well-ventilated spaces has increased the desire for more space to gather outside. “People want to be outside. They’re looking to be able to cook, serve, and entertain outdoors,” Robin said.
Some homeowners spent time during the pandemic assessing their space needs and concluded that they need less space, not more. Some want to reduce the time and money they spend maintaining a large home. “There are many people who spent the past nine months looking around asking, Why do I have so much space?” she said.
Ready to make the move? Visit sibcycline.com to browse homes for sale or find an agent.