COVID-19 Vaccine Distribution Will Add to the Number of Homebuyers

Zillow, the Seattle-based online real estate marketplace company, is reporting in a new survey that a large majority (70%) of homeowners say they would be comfortable moving into a new home after widespread COVID-19 vaccine distribution — a significant increase from the 52% in the previous survey. That amounts to homeowners in more than 14 million homes feeling newly comfortable moving after widespread vaccination. In remarks prepared for the release of the survey, Chris Glynn, principal economist at Zillow said, “We expect that the vaccine rollout will likely boost inventory, as sellers become increasingly willing to move despite Covid-19 — resulting in greater numbers of new listings beginning this spring. That injection of inventory could give buyers more options and breathing room in a competitive market. The vaccine, however, will also likely add to already-strong demand, given that most sellers will become buyers as they trade in for a home that better suits their new needs.”