Key Takeaways from NAR’s 2024 Profile of Home Buyers and Sellers
December 9, 2024 - Sejal Naik
Welcome Virginia REALTORS®
Virginia REALTORS® has conducted a weekly survey of members since the beginning of the COVID-19 pandemic, asking members if and how the COVID-19 outbreak has impacted home buyer and seller interest and behavior. During the survey conducted May 15th and 16th, 2020 we asked REALTORS® to compare conditions in the housing market now to what they were seeing a month ago, in the early weeks of COVID-19. We also asked about delays in closings and requests from past clients about mortgage forbearance. We received responses from 1,000 Virginia REALTORS® across the Commonwealth.
Buyer Activity in the Market
More REALTORS® are seeing an uptick in buyer interest and activity in the market in mid-May.
Closing Delays
As buyers return to the market, REALTORS® are finding that closings are being delayed in some cases. However, the majority of REALTORS® in Virginia are not experiencing closing delays:
Mortgage Forbearance
A note about surveys: This is not a randomized sample survey of Virginia REALTORS® members. Larger sample sizes generally make it easier to make inferences about the population of Virginia REALTORS®, with a certain level of confidence. The statistics from this survey have a margin of error of +/- 3.0%.
Virginia REALTORS® will continue to monitor the economic and housing market impacts of COVID-19 in Virginia. Please check the COVID-19 page on the Virginia REALTORS® website for updates. In addition, each Thursday afternoon at 4:00 p.m. we will host a Facebook Live on the impact of COVID-19 on the economy and the housing market. For more information, please contact Lisa Sturtevant (lsturtevant@virginiarealtors.org).
December 9, 2024 - Sejal Naik
November 22, 2024 - Virginia REALTORS®
November 14, 2024 - Dominique Fair