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May 3, 2020 | Massive Drop in Homebuyer Interest

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Homebuyer interest is down amdid rising concerns about seemingly everything.
Can virtual tours, phone calls and video conferences replace the real thing?Point2Point conducted a survey of real estate agents and professionals nationwide to find out.So far, the answer is no as Real Estate Agents Assess the Post-Pandemic Future of Homebuying.

  • The bulk of the agents who took the survey (77%) stated that they noticed quite a massive drop in homebuyers’ interest, or at the very least a drop in the decision to act on it.
  • 65% of agents stated that they are either extremely anxious or very worried and concerned about the future of their business.
  • Almost half of the respondents (47%) expected at least 50% of their business to simply vanish following this period of inactivity. Those who were slightly more optimistic were, once again, a very small minority.

How Big of a Financial Loss

How Big of a financial loss

How long do you think it will take to get back on track?

How long do you think it will take to get back on track

I suspect the majority (63% at 6 months or less ) are way off base.

From restaurants to hotels to home buying, Don’t Expect a Return to Normal This Year


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May 3rd, 2020

Posted In: Mish Talk

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