{"id":3017,"date":"2020-06-16T05:00:44","date_gmt":"2020-06-16T10:00:44","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/three-reasons-homebuyers-are-ready-to-purchase-this-year\/"},"modified":"2020-06-16T05:00:44","modified_gmt":"2020-06-16T10:00:44","slug":"three-reasons-homebuyers-are-ready-to-purchase-this-year","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/three-reasons-homebuyers-are-ready-to-purchase-this-year\/","title":{"rendered":"Three Reasons Homebuyers Are Ready to Purchase This Year"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/06\/15160521\/20200615-KCM-Share-1-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Three Reasons Homebuyers Are Ready to Purchase This Year | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>A recent <a href=\"https:\/\/www.lendingtree.com\/home\/mortgage\/more-than-half-of-homebuyers-plan-to-buy-despite-coronavirus-pandemic\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">survey<\/a> by <em>Lending Tree<\/em> tapped into behaviors of over 1,000 prospective buyers. The results indicated <strong>53% of all homebuyers are more likely to buy a home in the next year, <\/strong>even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move this year <em>(see graph below):<\/em><span id=\"more-42513\"><\/span><a href=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/06\/15160317\/20200616-MEM-ENG-1.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n<img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-42514\" src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/06\/15160317\/20200616-MEM-ENG-1.jpg?resize=650%2C366&#038;ssl=1\" alt=\"Three Reasons Homebuyers Are Ready to Purchase This Year | Simplifying The Market\" width=\"650\" height=\"366\" \/><\/a>Let\u2019s break down why these are a few of the key factors motivating buyers to actively engage in the home search process, and the corresponding wins for sellers as well.<\/p>\n<p><strong>1. Low Mortgage Rates<\/strong><\/p>\n<p>The biggest reason potential homebuyers indicated they\u2019re eager to purchase this year is due to current <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/05\/22\/interest-rates-hover-near-historic-all-time-lows-infographic\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">mortgage rates<\/a>, which are hovering near all-time lows. Today\u2019s low rates are making it more affordable than ever to buy a home, which is a huge incentive for purchasers. In fact, 67% of respondents in the <em>Lending Tree<\/em> survey want to take advantage of low mortgage rates. This is no surprise when comparing historic mortgage rates by decade <em>(see below):<\/em><a href=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/06\/15160351\/20200616-MEM-ENG-2.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-42515\" src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/06\/15160351\/20200616-MEM-ENG-2.jpg?resize=650%2C366&#038;ssl=1\" alt=\"Three Reasons Homebuyers Are Ready to Purchase This Year | Simplifying The Market\" width=\"650\" height=\"366\" \/><\/a>Sam Khater, <em>Chief Economist<\/em> at <em>Freddie Mac<\/em> <a href=\"http:\/\/www.freddiemac.com\/pmms\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">recently<\/a> said:<\/p>\n<blockquote>\n<p><em>\u201cAs the economy is slowly rebounding, all signs continue to point to a solid recovery in home sales activity heading into the summer as prospective buyers jump back into the market. Low mortgage rates are a key factor in this recovery.\u201d<\/em><\/p>\n<\/blockquote>\n<p><strong>2. Reduced Spending<\/strong><\/p>\n<p>Some people have also been able to save a little extra money over the past few months while sheltering in place. One of the upsides of staying home recently is that many have been able to work remotely and minimize extra spending on things like commuting expenses, social events, and more. For those who fall into this category, they may have a bit more saved up for down payments and <a href=\"https:\/\/www.simplifyingthemarket.com\/2019\/12\/09\/have-you-budgeted-for-closing-costs\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">closing costs<\/a>, making purchasing a home more feasible today.<\/p>\n<p><strong>3. Re-Evaluating Their Space<\/strong><\/p>\n<p>Spending time at home has also given buyers a chance to really evaluate their living space, whether renting or as a current homeowner. With time available to craft a wish list of what they really need in their next home, from more square footage to a <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/05\/13\/a-surprising-shift-to-the-burbs-may-be-on-the-rise\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">more spacious<\/a> neighborhood, they\u2019re ready to make it happen.<\/p>\n<h4><strong>What does this mean for buyers and sellers?<\/strong><\/h4>\n<p>With these three factors in play, the demand for housing will keep growing this year, especially over the <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/05\/27\/why-this-summer-is-the-2020-real-estate-season\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">summer<\/a> as more communities continue their phased approach to reopening. Buyers can take advantage of additional savings and low mortgage rates. And if you\u2019re thinking of selling, know that your home may be in high demand as buyer interest grows and the number of <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/06\/11\/are-you-ready-for-the-summer-housing-market\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">homes for sale<\/a> continues to dwindle. This may be your moment to list your house and make a move into a new space as well.<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>If you\u2019re ready to buy or sell \u2013 or maybe both \u2013 let\u2019s connect to put your plans in motion. With low mortgage rates leading the way, it\u2019s a great time to take advantage of your position in today\u2019s market.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move this year (see [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3018,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-3017","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Three Reasons Homebuyers Are Ready to Purchase This Year&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/three-reasons-homebuyers-are-ready-to-purchase-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Three Reasons Homebuyers Are Ready to Purchase This Year&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"A recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. 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The survey further revealed why, naming several reasons buyers are more likely to move this year (see [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nwiloanguy.com\/blog\/three-reasons-homebuyers-are-ready-to-purchase-this-year\/\" \/>\n<meta property=\"og:site_name\" content=\"NWI Loan Guy Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NWIHomeLoans\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/NWIHomeLoans\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-16T10:00:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i2.wp.com\/nwiloanguy.com\/blog\/wp-content\/uploads\/2020\/06\/20200615-KCM-Share-1-549x300-1.jpg?fit=549%2C300&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"549\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott\" \/>\n<meta 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