WSJ: "Coronavirus Looms Over Crucial Spring Season for Housing Market"11200
Pages:
1
 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| The Wall Street Journal (12 March 2020) Coronavirus Looms Over Crucial Spring Season for Housing Market | Uncertainty has economists tamping down expectations that low mortgage rates, strong job market would boost 2020 home sales Hi All, If the objection to using Matterport Digital Twins by real estate agents has been - the house will sell regarding if I use a Matterport 3D Tour - that's likely to change as the "coronavirus effect" is likely to affect buying and selling of residential homes and condos for sales. "The lowest mortgage rates on record are colliding with the prospect of an economic downturn prompted by the coronavirus outbreak, setting the stage for an unpredictable spring selling season in the housing market," says The Wall Street Journal. "Early indications suggest that rock-bottom borrowing costs may not be enough to lure many home buyers amid the current uncertainty. Economists are tamping down earlier expectations that cheap rates and a strong job market would boost the housing market in 2020 following years of sluggish growth." "The [NAR] association said Monday [9 March 2020] it expected a 10% near-term drop in home sales in the next month, compared with the period before the virus became prominent. In a survey of its members about the coronavirus, the association said 11% of respondents reported lower home-buyer traffic and 7% reported lower home-seller traffic," reports The Wall Street Journal. "The spring months are crucial for home sales, as buyers look to move into new homes before the start of the school year. About 40% of annual sales take place from March through June, according to the NAR." Source: The Wall Street Journal |
||
| Post 1 • IP flag post | ||
 WGAN FanClub Member Queensland, Australia |
Wingman private msg quote post Address this user | |
| Similar situation in Australia https://thenewdaily.com.au/finance/consumer/2020/03/12/coronavirus-property-market/ |
||
| Post 2 • IP flag post | ||
Pages:
1This topic is archived. Start new topic?