flexiblefullpage - default
Currently Reading

How Is COVID-19 Impacting the Housing Market Right Now?

billboard - default

How Is COVID-19 Impacting the Housing Market Right Now?

March 20, 2020
Man looking at empty shelf
By Alejandro Bascuas

As businesses close and many Americans hunker down at home amid COVID-19, fears of how long this may last and if a recession will follow are on the minds of many. With public concern sky high, builders are no doubt wondering how the virus is impacting the housing industry. According to a Realtor.com survey that more than 3,000 realtors took at the start of the week, the virus’ disruption is substantial. Nearly 28 percent of realtors are seeing fewer homes on the market due to the coronavirus, 40 percent reported that open houses are on hold, and 16 percent have had clients take their listing off the market--up from a mere three percent the week before. 

The coronavirus pandemic, and resulting financial crisis, stock market crash, and growing number of layoffs, could make the already serious housing shortage even more severe.

Amid widespread fear and unprecedented measures, including social distancing and "shelter in place" procedures in especially hard-hit cities, nearly 28% of Realtors® are seeing fewer homes on the market as a result of the coronavirus, according to the most recent National Association of Realtors® Flash Survey: Economic Pulse report. And the inventory shortage is growing by the minute as only 10% of Realtors observed fewer listings the week before.

More than 3,000 Realtors participated in the survey conducted on Monday and Tuesday of this week.

Read More


Related Stories

Housing Markets

Home Inventory Levels: US Cities With the Most—or Fewest—Homes for Sale

While for-sale inventory is rising slowly but steadily nationwide, many markets remain undersupplied and overpriced on a year-over-year basis

Market Data + Trends

The Biggest Hurdle for Housing Is Seller Hesitation, Experts Say

Elevated borrowing costs are currently affecting both homebuyers and sellers, with buyers hesitant to spend and sellers unwilling to list and sacrifice the lower rates they've locked in on their current homes

Government + Policy

Bipartisan House Bill Aims to Incentivize Home Selling

The More Homes on the Market Act seeks to amend the sales gain tax exclusion to bring more homes into the for-sale market

boombox1 -
native1 - default
halfpage2 -

More in Category

native2 - default
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.