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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: 1171802

Reported Deaths: 19025
CountyCasesDeaths
Los Angeles3832757580
San Bernardino884691129
Riverside850771434
San Diego75307988
Orange731521559
Kern39990448
Fresno37349477
Sacramento35739566
Santa Clara32454476
Alameda28378502
San Joaquin25675502
Contra Costa23381260
Stanislaus21145422
Tulare20550308
Ventura18914175
Imperial15725356
San Francisco15053160
Monterey14695116
San Mateo13707170
Sonoma11846157
Merced11537179
Santa Barbara11205135
Kings1044087
Solano1003681
Marin7628129
Placer622468
Madera604785
San Luis Obispo595635
Shasta460147
Yolo456174
Santa Cruz420228
Butte385359
Sutter314415
Napa294517
El Dorado21544
Yuba198110
San Benito181316
Lassen17733
Tehama158725
Mendocino148522
Nevada11839
Tuolumne9088
Glenn8918
Lake88619
Humboldt8199
Colusa6946
Siskiyou6242
Mono5243
Amador48416
Calaveras47522
Del Norte3131
Inyo29016
Plumas2050
Trinity1390
Mariposa1262
Modoc1220
Alpine470
Sierra190
Unassigned00
Chico
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Oroville
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Willows
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Frosty mornings are in the forecast through the weekend with highs every day in the mid-to-low 60s and sunny to mostly sunny skies.
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