The results of a National Association of REALTORS® (NAR) Flash Survey on May 10 and 11 reveals the latest member perceptions of the COVID-19 coronavirus pandemic on the real estate industry.
Nonprofit assistance – A total of 61 percent of REALTOR® members have volunteered for nonprofit organizations dealing with the pandemic or they have donated to such organizations. Get all the survey details.
Donations for nonprofits – Thirty-seven percent of members made donations to nonprofit food banks, 28 percent helped entities providing protective masks/gear and 20 percent assisted organizations that delivered food to frontline workers.
Volunteering for nonprofits – Thirty-two percent volunteered by making wellness checks on others, 18 percent provided virtual companionship, 17 percent delivered food to elderly or housebound residents.
Buyer expectations – Fifty-eight percent of members think home prices will go down because of the pandemic, with the highest percentage of those expecting a decrease of 5 to 10 percent.
Seller behavior – Forty-one percent of members say sellers postponed putting their homes up for sale. Find out more about what sellers are doing about open houses, virtual showings, in-person showings and more.
A total of 3,121 members successfully completed the survey out of 87,153 randomly chosen members, providing a 3.58 percent response rate, NAR reported. Ninety-four percent of responders said most of their business is residential, while four percent said they mostly conducted commercial real estate.
