The Housing Market During a Pandemic

A topic of interest for anyone involved in the real estate market right now, is the low interest rates for mortgages and purchasing a new home. For my Data Journalism Visualisation assignment, I examined the housing market during the pandemic. With the economy rapidly changing with the pandemic, and the new president, interest rates have reduced extremely and many people have been selling and purchasing their homes. Stimulus checks have also been distributed, making it possible for some buyers to put a higher down payment on a home.

I surveyed my social media following and asked them specific questions regarding their thoughts on the real estate market, and the results were different from what I expected! I asked the following questions:

“Have you purchased a new home during the pandemic?”

“Have you invested in real estate the past year?”

“Have you sold a house during the pandemic?”

“Are you currently searching for a home due to lower interest rates?”

The age range of people that responded to this survey were people aged 18-30.The results that I found were that many people actually weren't looking to purchase a home or sell a home. However a small group of people were looking into purchasing a home because of low interest rates.

The table below shows an interpretation of the data.

I also spoke with a new home owner, Peter Jaussen, who just purchased a home on Friday April 2, 2021.

"I found the home on Tuesday and purchased the home on Friday." said Jaussen.