flexiblefullpage - default
Currently Reading

How Disruptive Will the COVID-19 Pandemic Be to Real Estate?

Advertisement
billboard - default

How Disruptive Will the COVID-19 Pandemic Be to Real Estate?


March 19, 2020
searching on a computer
By GutesaMilos

Common sense would say that real estate may not be the first thing on Americans’ minds during a pandemic, and how people are searching online is backing that up, according to Point 2 Homes. Google Trends shows a marked dip in searches related to “real estate,” “houses for sale,” and “condos for sale.” Additionally, traffic to Point 2 Homes' website is also down, falling 35 percent in just one week. And as sellers stop open houses and move to virtual showings, the industry will continue to change. Point 2 Homes has rounded up charts to show the change in search volume as well as professional opinions on the outbreak. 

The Coronavirus outbreak, which originated in Wuhan but has extended into 162 countries and territories, is now officially a global pandemic. With over 198,000 confirmed cases, a number that changes by the hour, the virus is slowly but surely bringing everything to a grinding halt.

The measures taken to contain its spread, the most important of which seem to be social distancing and home isolation, are leading to one of the most severe economic contractions in recent history or, according to some top economists, to the beginning of a global recession. And this worrying scenario, although it might be too soon to tell, could soon unfold before our eyes.

COVID-19 Already Has Dramatic Short-Term Impact on Real Estate Market

The real estate market was picking up speed, but the Coronavirus outbreak and the measures needed to contain it inflicted a sharp shock to the system, creating ripple effects that will probably extend farther and wider than anyone can anticipate.

Read More


 

Related Stories

Codes + Standards

The Inefficiencies of the Latest Energy Code

The 2021 edition of the International Energy Conservation Code (IECC) hampers the return on investment for builders and homebuyers

Opinion

Work at What You Love

Home builders who are truly passionate about providing safe, quality, comfortable homes in their community will power through these challenging times and find satisfaction in both the effort and the results

Resilient Construction

The Wrongs of Make It Right in New Orleans' Affordable Housing

The legacy of the Make It Right Foundation's failed efforts to restore and revive underserved neighborhoods in New Orleans' Lower Ninth Ward goes well beyond leaky roofs and toxic mold

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category



Advertisement
native2 - default
Advertisement
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
Subscribe
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.