Source: WTOP News—
The National Association of Realtors has released a years’ worth of research on how the housing market has changed — and the answer is a lot.
Aside from skyrocketing prices, stiff competition among potential buyers and a record speed at which homes are selling, the COVID-19 pandemic has also changed the reasons for why people are moving.
“It is really, really interesting. Historically, what it has been is a change in your family situation: You have a baby, you get married, you get divorced (or) your children leave the nest … but right now what we are seeing is people moving to be close to friends and family. That’s a new one,” said Jessica Lautz, vice president of demographics and behavioral insights at NAR.