Real Estate Articles

2020-07-17 Pandemic Changes Plans for Renters Hoping to Buy a Home | By: Brad Beckett

Pandemic Changes Plans for Renters Hoping to Buy a Home

By Brad Beckett

According to a recent survey from RentCafé, the Coronavirus pandemic has dashed the plans of those renters planning to transition to homeownership this year.  They report that in early 2020, 11% of renters said they were ready and planning to buy a home this year.  However, the path to homeownership for 43% of those renters ready to buy has now changed due to the pandemic.  Breaking down that group, most changed their plans because of economic uncertainty, followed by loss of income.  The survey, which ran at the end of May, asked 7k renters about their housing plans before and after the Coronavirus hit. 

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