Sellers Losing Hope During Coronovirus Pandemic?

With the coronavirus pandemic bringing the U.S., and much of the world, to a screeching halt, only just over half of Americans think it’s still a good time to sell a home.

Only 52% of homeowners believe it’s still an opportune moment to put their place on the market—a steep month-over-month net decrease of 29 percentage points in March, according to Fannie Mae’s monthly Home Purchase Sentiment Index. The index measures buyer and seller attitudes about the housing market.

Meanwhile, the net share of Americans who think it’s a good time to buy a home, 56%, is down 7 percentage points from February to March.

“This is the tip of the iceberg,” says Javier Vivas, realtor.com®’s director of economic research. “We have yet to see the full extent of the impact of the virus on housing.”

Source: Why Home Sellers Are Losing Hope in the Housing Market | realtor.com®

We’re not seeing a huge slowdown in either pending sales, or closed sales, however anecdotally the Title Companies are seeing a slowdown, and their offices are closed to the public with many working from home. As long as the County can record deeds, we’ll probably muddle along just fine – Ben

Leave a Reply

Your email address will not be published. Required fields are marked *