HomeLight’s Q2 2020 Top Agent Insights report was compiled using data from 7 separate industry surveys sent between April and June. Over the three-month span, over 2,000 real estate agents participated nationwide. Agents were invited to take the surveys based on the same performance data HomeLight uses to identify top real estate agents for hundreds of thousands of homebuyers and sellers across the country.
What's offered in the Top Agent Insights report?
- Get the Full Story on Housing's Coronavirus Comeback
- Access Biweekly Market Trends Data for Q2 2020
- See How Homebuyer Preferences Are Evolving Post-Covid-19
- Will the Way We Buy and Sell Real Estate Be Forever Changed?
More about HomeLight's research
2,000+ Agents surveyed between April and June 2020
7 Polls sent throughout the quarter
Here's what's inside:
Market Rebounds After Coronavirus Suppression
At the height of stay-at-home directives and business closures, reports of a seller’s market dropped to 48%. By June, the market temperature rose to pre-pandemic levels, with 79% of agents reporting seller’s market conditions.
Inventory Shortage Comes Back Into Focus
The majority of agents (60%) believe a lack of supply to meet demand will be the biggest challenge to the 2020 housing market, and only 20% say they’re more worried about coronavirus uncertainty.
New Industry Trends Emerge
The top three business adaptations real estate agents believe are here to stay include: digital closings and use of e-signature software (75% of respondents); new safety protocols around property inspections (53%); and doubling down on virtual tours and showings (43%).
Bracing for a Second Wave
At 41%, the largest group of agents believe a second wave of the virus would slow real estate activity some, but not as drastically as the first wave, thanks to new safety precautions and protocols in place.
Other key findings from HomeLight’s Top Agent Insights Survey for Q2 2020 shed light on shifting homebuyer preferences, home improvement trends during COVID-19, and what’s driving the inventory shortage.Download Your Report