If you've been wondering how the current state of affairs around the world will affect the real estate market in 2020, you might be in for a big surprise! It seems even with the uncertainty of the global health crisis, job and economic outlook, the Delaware and Pennsylvania real estate market is poised to have a great year.

According to a recent survey by Lending Tree, looking at the behavior of over 1,000 buyers, the results found that 53 percent of all homebuyers are more likely to buy a home in the next year. Homebuyers are ready to make a move despite anything we may have assumed would hold them back!

So why are buyers still ready to take the leap toward homeownership? Three reasons stood out in the results of the survey and we've listed them for you below.

Take advantage of low interest rates
Mortgage rates are still historically low and if you've been thinking about buying a home, why not take advantage of these rates while they are still around? 67 percent of the buyers surveyed by Lending Tree named this as their number one motivator for purchasing a home in 2020.

Ability to save for a downpayment
While quarantine had many keeping a tighter budget and grasp on their wallet, it allowed for more savings to be allocated toward a downpayment. 32 percent of those surveyed above reported that they were able to save more for a downpayment due to their reduced spending during the current health crisis.

Spending more time at home drove desire to buy
If spending more time at home didn't have you rearranging your furniture or rethinking how you use your home's spaces, it may have drove your desire to purchase a new (or even your first!) home even more! 28 percent of those prospective buyers surveyed said spending more time at home made them want to buy their own home more than ever!

Ready to make the move into a new home in Delaware or Pennsylvania this year? Let the Kat Geralis Home Team be your guide! 

Contact us today for more information about available homes or to answer your questions about home buying or homeownership!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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