Homebuyer Buzz: Forget Seasonality but Remember These Zip Codes
August 25, 2020
Homebuyer Buzz is our monthly round-up of news stories related to the latest in homebuying trends — from the evolving wants of homebuyers to design news and more.
It’s August and who would’ve guessed this time last year that the homebuying season would shift from spring to late summer, but homebuyers are out in force now. In this Buzz, we also look at the hottest zip codes and the paint colors Behr is promoting for 2021.
Colorado Springs is the hottest zip code in the nation. At least according to housing market trends pulled by realtor.com. Colorado Springs, Colorado, is joined by Reynoldsburg, Ohio, and Rochester, New York to lead the country. These zip codes have “bucked the national trend” of a housing slowdown and are seeing homes sell at “blistering” paces. [HousingWire]
Seasonality is out the window right now. Normally, the housing market slows down after the spring and early summer rush, but this year continues to upend expectations. According to Redfin, it’s been a very hot August with the median home price reaching $314,000 and almost half of sellers accepting an offer within the first two weeks a listing goes on the market. [Inman]
Homebuyers to leave reviews for builders on Zillow. Zillow is launching a feature where homebuyers will be able to review their builders upon move-in. The reviews and ratings will appear on a builder’s profile and on community pages and listings. Buyers will be asked about their overall experience, the quality of work on their home and more. [Builder]
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Cottagecore is still a buzzword. Don’t think you can get away from the design aesthetic “Cottagecore” just yet — it now has the seal of approval of none other than Taylor Swift. The design style incorporates all things cozy and idyllic including rustic décor, flowers, big blankets and dreamy bookshelves. Bonus points for a chicken coop. [Realtor.com]
Behr's 2021 color palette is all about “elevated comfort.” Behr released their 2021 color palette, dubbed Elevated Comfort, that features 21 shades of warm neutrals, gentle hues, restorative blues and even rich and evocative colors like deep green. The palette is grounded in “comfort and personalization,” to adapt to the home’s new normal. [Behr]
Renters are attracted to convenience. For multifamily builders looking for not-quite buyers, MHN is cataloging the features attracting renters the most. Not surprisingly, contactless entry is gaining in popularity. Other amenities also relate to the pandemic and increased at-home time, including discounts for using food delivery services, outdoor fitness opportunities, coworking spaces and excellent Wi-Fi. [MHN]