Coronavirus

As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. However, as the year unfolded, it became clear that there would be little negative impact on the housing market. The MLS™/CLAW Areas saw a significant jump in both the number of sales and the median price for Single Family Homes during the third quarter …

With the Coronavirus pandemic in full swing and stay-at-home orders currently in place throughout the nation, the question on everyone’s mind is, “What will the housing market look like for the remainder of 2020?” According to NAR Chief Economist Lawrence Yun, “After a pause, home sellers are gearing up to list their properties with the reopening of the economy…Plenty of buyers also appear ready to take advantage of record-low mortgage rates …

C.A.R. Deputy Chief Economist Jordan G. Levine recently provided a market update for the state of California amid the COVID-19 outbreak. California started the year on a strong footing economically, however, the virus has changed everything for 2020. Unprecedented in terms of size and economic scope, there is still a lot of uncertainty and it may be too early for most major indicators. Unemployment will drive negative impacts and we are …