Real Estate Impact of COVID-19:
COVID-19 and the quarantine nationwide will undoubtedly have a significant impact on real estate. The only question is how bad it will be, and how long it will last. The quarantine has not stopped showing activity completely, but it has significantly decreased showing activity compared to what it was, or would be. I’ve personally had clients ask to see homes, and there are still deals closing, and moving as normal. However, the activity is certainly less than it would be in a normal year during the month of March. This is typically the time when things are really starting to ramp up.
On the positive side, interest rates are extremely low right now. That should encourage buyers to enter the market once things stabilize on the medical front. In addition, with the stock market fluctuating so violently I predict there will be people looking for a more stable investment which should help the housing market as well.
The Latest Tally:
Keep up to date daily on the showing activity we are seeing in North America from one of our premier showing administrators. This link will take you to a daily update of showing activity for listings.
Please contact me for help with your real estate needs or any questions you have and I’ll be happy to help.