Life as we know it has been upended by the coronavirus pandemic, including the experience of purchasing a home.
A new study showed that homebuyers between January and May of this year are twice as likely to experience anxiety and stress than those who have bought in the last 5 years.
The study also showed that 42% of that same group ended up in a bidding war. This goes to show that there is still a high demand for the low inventory of homes available.
Furthermore, 59.29% of homeowners who purchased before the WHO declared the coronavirus a pandemic said that someone in their household who contributes to housing costs lost their job.
This article discusses several additional statistics about how the coronavirus pandemic has affected recent homebuyers.
“When Clever surveyed people who purchased their home between 2015 and 2019, many buyers said they were likely to feel happier and more secure because of homeownership.
However, when Clever performed the same study in 2020, those homebuyers were more than two times as likely to report feelings of anxiety, almost two times as likely to report stress, and nearly half as likely to say homeownership makes them feel comfortable and secure than those who bought in the last five years.”