COVID-19 Housing Market Update

COVID-19 Housing Market Update

The coronavirus pandemic has reduced homebuying and selling activity. Here’s how it could impact the housing market for the rest of 2020.

The coronavirus pandemic has thrown a wrench into all facets of life, including paying rent or the mortgage for some.

Stay-at-home orders and calls for social distancing have ruled out in-person home tours, and closed courts mean your local clerk’s office can’t process new property deeds.

While many people are choosing to delay a home purchase or sale and stay in place until the coronavirus pandemic has subsided – whenever that may be – others are still buying, selling and signing new leases. 

But as economic uncertainty and personal financial concerns grow, experts see some changes ahead in the housing market even after the threat of COVID-19 has peaked that will affect buying, selling, and renting.

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