Tag Archives: Coronavirus

Coronavirus Leads to Worst Home Sales in a Decade | realtor.com®

Existing-home sales hit their lowest level in a decade as the coronavirus pandemic continued to play havoc on the housing market.

Sales of previously lived-in homes plummeted 17.2%, to just 4.33 million transactions in April compared with a year ago, according to the seasonally adjusted numbers in a recent report from the National Association of Realtors®. They were down 17.8% from March as much of the country stayed home to help stem the spread of COVID-19.

“Sales are at the worst level in about a decade. But all things considered, it really could’ve been worse,” says realtor.com® Chief Economist Danielle Hale. “It’s not surprising given that everyone’s staying home.”

With nearly 39 million folks filing for unemployment since the crisis began two months ago and many parts of the country still prohibiting in-person showings, May and June could also be rough months for the housing market, she predicts.

Source: Coronavirus Leads to Worst Home Sales in a Decade | realtor.com®

We’re still super busy in Mohave County. It’s startling to see the number of sales, and the number of new homes being constructed.

Gardening Popular During Pandemic

As the coronavirus pandemic shook the country this spring, grocery stores quickly sold out of essentials and produce departments were emptied. Fearing food shortages, and afraid to expose themselves to other shoppers in the store, many following orders to stay at home came up with the same idea: pandemic gardens.

It happened to be spring planting season as shelter-in-place orders came down in the U.S. Even people unfamiliar with gardening began placing orders for seeds and those selling them saw exponential spikes in business.

“Not in any recorded history have there been sales at these levels, certainly in the last 20 years,” Dave Thompson, director of sales and operations at organic seed company Seeds of Change in Rancho Dominguez, California, tells PEOPLE. “This is so unprecedented. We’re doing the best we can. You can’t capture all of this business.”

Source: Pandemic Gardens Are Trending: Fears Over Food Shortages Lead First Timers to Get Growing | PEOPLE.com

A home seller’s Pandemic secret weapon: 3D virtual tours

On March 10, my husband and I decided to list our home this spring—smack in the middle of the coronavirus pandemic.

This was not a decision we took lightly. Derrick and I had been thinking about putting our Chicago condo on the market for a while. Having lived in our two-bed, two-bath home for four years, 2020 was going to be when we’d finally “settle down” somewhere quieter and closer to our families.

Plus, we figured at the time that getting in on the spring buying season would be key.

On March 11, we emailed a local real estate agent, Paul Barker of Barker Group, who specialized in our Northside neighborhood and had sent us a marketing flyer last year. We made plans for the three of us to meet at our condo a few days later.

But that week, as things began to really get weird in Chicago—like panic shopping at grocery stores and sports seasons canceling­—we questioned whether we’d need to meet virtually instead. Barker assured us we’d be fine, however.

“I need to do a walk-through, but we will keep our distance, and I won’t have to touch anything,” he told me. “Then, after I’ve researched and put together a plan, we can have a virtual meeting to go over the marketing strategies and pricing.”

The good news with moving forward as planned, our real estate agent told us, was that online traffic was actually up from the previous month. But with showing requests down, we’d have to up our game online. How? By adding a 3D virtual tour to our listing. Creating a virtual tour would entail hiring a specialized photographer and equipment—which our agent’s firm would provide.

Source: ‘Why We’re Selling Our Home During the Coronavirus Pandemic’ | realtor.com®

Click on the link to see what Realtors are doing with 3D virtual tours to keep selling during the pandemic.

Everything You Need to Know about Real Estate and Coronavirus in One Place

As the coronavirus epidemic roils American society, it is totally upending the world of real estate. The realtor.com editorial team is tirelessly covering the impact of the pandemic on trends in the housing market, where mortgage rates are heading, and the outlook for home buyers and sellers. We’re also full of suggestions on what to do with your home if you end up cloistered indoors, whether it’s self-quarantine or sheltering in place. Here’s a quick guide to the stuff you need to know:

Source: The Coronavirus, Real Estate, and You: Our Coverage of the Pandemic | realtor.com®

Click the link for a comprehensive series of links to everything you wanted to know whether you’re a seller, buyer or just thinking about it. Really a useful collection of information in one place. – Ben

Besides Alcohol, Cannabis Remains Essential in Arizona

Many businesses in major metropolitan areas in Arizona have closed their doors for the foreseeable future, but medical cannabis patients don’t have to worry about dispensaries closing.

Since cannabis is a medicine, it is an essential service, and dispensaries will continue to sell products as usual, said Sam Richard, executive director of the Arizona Dispensaries Association. But “everyone’s doing things a little differently,” he said.

Several dispensaries have posted notices on their websites detailing their response to COVID-19 emphasizing patient and employee safety and following Centers for Disease Control and Prevention guidelines.

Common precautions include limiting the number of patients inside the dispensary, only allowing people in the waiting room, and frequently wiping down surfaces. Dispensaries have encouraged employees who feel sick to use their paid time off.

Many dispensaries also have changed their hours, opening late, closing early or both.

Source: Arizona Medical Marijuana Dispensaries to Stay Open, With Changes | Phoenix New Times

Equal time for the other vices, after all, the casinos are all closed.

How is the Coronavirus Affecting Real Estate

With more Americans out of work and worried about the security of their jobs in addition to their health, home buyer interest has fallen sharply, according to 90% of Realtors® surveyed in the National Association of Realtors® Flash Survey: Economic Pulse.

About 6,000 real estate professionals participated in the survey, which was conducted from April 5 to April 6. Roughly 45% of respondents said buyer interest had plunged by more than half. Just 2% said they had seen an increase in eager buyers.

Source: This Is How the Coronavirus Crisis Is Ravaging the U.S. Housing Market | realtor.com®