COVID-19 Beginning To Affect Real Estate, But It’s Not All Bad News

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Posted To: MND NewsWire

Home sellers and potential buyers appear to be having a variety of reactions to the turmoil surrounding the COVID-19 virus with some even viewing it as an opportunity due to the lower interest rates . The National Association of Realtors® (NAR) conducted a flash survey on March 9 and 10 among its members to find how their customers were reacting. Realtors reported that there has been only minimal change in seller interest in selling and about 10 percent reported that the problem has affected the number of homes on the market. Among agents operating in California, about 14 percent say they have noticed a decrease and about 15 percent said this in Washington. Those two states have, thus far, had the higher number of confirmed COVID-19 cases. However, in California 12 percent of members cited…(read more)

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