During the COVID-19 pandemic, many homebuyers took advantage of low mortgage rates, leading to a surge in home sales. However, the competitive market forced buyers to make quick decisions, which many now regret. A recent Opendoor survey indicates that 91% of former buyers feel their decisions were influenced by the pandemic's urgency, prompting them to consider selling their homes. The ideal of a 'forever home' has shifted to a more transient mindset, with 68% of home sellers now viewing their homes as 'for now' investments instead of lifelong commitments.
Homebuyers who took advantage of low mortgage rates during the COVID-19 pandemic are regretting their haste in purchasing a home amid a competitive market.
A survey revealed that 91% of those who sold their homes felt influenced by pandemic-era mistakes, emphasizing the shift in attitudes towards real estate investments.
With the shift in perception, control and convenience have become vital for homebuyers. The concept of a 'forever home' has changed to a 'for now' investment.
Many sellers now believe that the idea of a 'forever home' isn't realistic, as 68% of sellers do not see it as attainable anymore.
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