A survey by Point 2 Point Homes indicates a huge change in homebuyer sentiment.

Please consider the Point2Point Flash Survey on Homebuyer Sentiment.

Key Points

• 19% percent are still determined to find a home.
• 18% are searching but not as actively.
• 22% have stopped until the outbreak is over and another 6% stopped searching for the time being. That's a postponement rate of 28%.
• 35% claim to "not know" while "keeping an eye on the market".

The other 6% is a mystery.

The Point2Point article title says "U.S. Still Optimistic Despite Outbreak" but that is certainly not my takeaway from those stats.

How Soon?

​That question does not tell us how the coronavirus impacted their timelines. The next question is better.

How Has Your Home Buying Process Changed?

Key Points

• 42% say no changes
• 27% want a cheaper home
• 19% expect delays and a slowdown in all aspects
• 10% are paying attention to health hazards
• 2% may need financial health

​That totals 100% which indicates survey flaws.

Clearly, someone might want a cheaper home and expect delays at the same time. That same group could also be paying attention to health hazards.

I see no indication that Point2Point allowed for multiple responses. One indication would be a total in excess of 100.

What is the Main Change in Home Selection Process?

Only 35% say their process has not changed.

Curiously, only 12% say they are putting the process on hold.

That is inconsistent with a 28% postponement rate (22% who stopped looking plus another 6% who stopped looking "for the time being").

That is not necessarily a polling flaw but it is a logical flaw in answers vs the first question.

Methodology

The 5-question survey was posted on the Point2 Homes website between March 23rd and 26th. There were 2900 usable answers. All percentages were rounded.

The answers are interesting but I question whether the approach constitutes a statistically valid, random sample.