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How coronavirus is impacting the housing market

The coronavirus is sweeping across the nation while infecting hundreds of thousands of people and crippling our economy. One question raised is how it is impacting housing.

Posted: Apr 1, 2020 8:32 PM

REDDING, Calif. - Josh Barker, owner and broker of Remax Town and County, said in March 2020, almost 240 homes were sold, down from about 60 from this same time last year.

Barker told Action News Now there are several contributing factors, like mortgages changing and higher unemployment rates, but one big one is the coronavirus causing people to rethink their housing plans.

"About 60% of our pendings for the month happens in the first two weeks and that second two weeks was about 40% of the contract," said Barker. "Buyers out there still resilient, they're wanting to take advantage of the low-interest rates, there's some optimism that this will obviously come to pass like all things do overtime."

Barker said he has noticed a lot of people buying now because interest rates are low and there is less competition in the market for those hot properties.

Until recently, the California Association of Realtors had suspended open houses due to coronavirus concerns, with many agencies switching to virtual showings.

California Coronavirus Cases

Data is updated nightly.

Cases: 3592560

Reported Deaths: 53854
CountyCasesDeaths
Los Angeles120012821916
Riverside2909043892
San Bernardino2875133116
San Diego2623603371
Orange2622414075
Santa Clara1114601822
Kern104057937
Fresno960231466
Sacramento941291510
Alameda811681285
Ventura78184883
San Joaquin672841182
Contra Costa63142701
Stanislaus56602957
Tulare48203770
Monterey42373329
San Mateo39225525
San Francisco34480426
Santa Barbara32267422
Solano30305167
Merced29376413
Sonoma28379303
Imperial26946641
Kings22150227
Placer20035232
San Luis Obispo19835246
Madera15596214
Santa Cruz14790187
Marin13337198
Yolo12895185
Shasta11102179
Butte11033169
El Dorado9204100
Napa909475
Sutter892398
Yuba579539
San Benito578161
Lassen563324
Tehama511852
Nevada402274
Tuolumne397259
Mendocino383444
Amador348041
Humboldt326633
Lake318141
Glenn223623
Colusa214213
Calaveras192849
Siskiyou179014
Inyo133437
Mono12194
Del Norte10205
Plumas6546
Modoc4604
Mariposa3957
Trinity3735
Sierra1000
Alpine840
Unassigned00
Oroville
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Oroville
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Hi: 59° Lo: 45°
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Auburn
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Hi: 53° Lo: 38°
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Red Bluff
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Hi: 39° Lo: 20°
Feels Like: 37°
Red Bluff
Clear
40° wxIcon
Hi: 56° Lo: 39°
Feels Like: 37°
Oroville
Clear
46° wxIcon
Hi: 63° Lo: 40°
Feels Like: 44°
This weekend's weather is nice but active weather is headed our way Monday through Wednesday. This will include rain, low elevation snow and the chance for valley thunderstorms.
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