Market Perspective

Has the Pandemic Changed the Consumer Mindset?

The coronavirus has changed a lot for us this year, but has it changed what our customers want? Do people feel differently about homeownership than they did before, and what are they looking for from professionals like you and me? To find out, Ellie Mae surveyed over 400 consumers to understand their opinions about buying, selling, and owning a home in the age of COVID-19. Below are some of the key takeaways to help you better understand the consumer mindset and ensure you’re delivering the type of experience they’re looking for.

77% of survey respondents were current homeowners. Of that group, 24% were planning to sell their home in the next 6 to 12 months.

In the non-homeowners group, 50% of respondents were planning to buy within the next year.

Email is still the No. 1 choice when it comes to getting information from a lender or agent.

82% of buyers are comfortable using e-sign to close the transaction, but that doesn’t mean they want everything to be digital. The majority of respondents prefer to view a home in person, over any other method.

Read the full survey report and methodology here.

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