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Despite COVID, Market Sentiment Remains Strong

As the COVID-19 pandemic shows signs of slowing and people return to work, optimism is rising among consumers, even as new home prices soar and inventory dwindles.

According to a new survey by real estate search company Movoto, consumers showed confidence that the market would show favorable conditions to buyers in the next three months. On a scale from -100–100 buyers scored the market at +22.9, with 0 being a neutral sentiment on buying conditions over the next three months.

The survey, conducted by OJO Labs for Movoto, asked respondents collected from their website the simple question, “How much do you agree or disagree with this statement: I am confident that the next three months will be a good time to buy a home?”

OJO Graph

“Of the group surveyed, 32.0% of respondents agreed that the next three months would be a good time to buy a home, while 20.6% strongly agreed that it would be a good time to buy a home,” said Patrick Kearns, the director of storytelling at OJO Labs. “Overall, over 52% of respondents expressed a positive sentiment.”

“Only 17.8% of respondents neither agreed nor disagreed with the statement that the next three months would be a good time to buy a home, while the other 29.6% expressed a negative sentiment about buying conditions over the next three months,” Kearns continued. “Of the total respondents, 21.3% strongly disagreed that the next three months would be a good time to buy a home, while 8.25% just disagreed with the statement.”

Regionally, buyers in California, Florida, and Texas—some of the hottest markets in the country—were generally positive about the housing market with California scoring the prospective market at +4.7. Respondents in Florida scored the market at +36.1 while Texas scored a +10.3.

About Author: Kyle G. Horst

Kyle G. Horst is a reporter for DS News and MReport. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography including best newspaper design by the Associated Press Managing Editors Group and the international iPhone photographer of the year by the iPhone Photography Awards. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at kyle.horst@thefivestar.com.
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