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    Impact of the Coronavirus on the U.S. Housing Market

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    Friday, March 6, 2020   /   by Justin Critchfield & Michelle Aspseter

    Impact of the Coronavirus on the U.S. Housing Market


    Impact of the Coronavirus on the U.S. Housing Market


    Impact of the Coronavirus on the U.S. Housing Market | MyKCM

    The Coronavirus (COVID-19) has caused massive global uncertainty, including a U.S. stock market correction no one could have seen coming. While much of the news has been about the effect on various markets, let’s also acknowledge the true impact it continues to have on lives and families around the world.


    With all this uncertainty, how do you make powerful and confident decisions in regard to your real estate plans?


    The National Association of Realtors (NAR) anticipates:



    “At the very least, the coronavirus could cause some people to put home sales on hold.”


    While this is an understandable approach, it is important to balance that with how it may end up costing you in the long run. If you’re considering buying or selling a home, it is key to educate yourself so that you can take thoughtful and intentional next steps for your future.


    For example, when there’s fear in the world, we see lower mortgage interest rates as investors flee stocks for the safety of U.S. bonds. This connection should be considered when making real estate decisions.


    According to the National Association of Home Builders (NAHB):



    “The Fed’s action was expected but perhaps not to this degree and timing. And the policy change was consistent with recent declines for interest rates in the bond market. These declines should push mortgage interest rates closer to a low 3% average for the 30-year fixed rate mortgage.”


    This is exactly what we’re experiencing right now as mortgage interest rates hover at the lowest levels in the history of the housing market.


    Bottom Line


    The full impact of the Coronavirus is still not yet known. It is in times like these that working with an informed and educated real estate professional can make all the difference in the world.

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    Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of March 27, 2023. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    The multiple listing information is provided by Wasatch Front Regional Multiple Listing Service, Inc. from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2023 Wasatch Front Regional Multiple Listing Service, Inc., All Rights Reserved. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Conspicuous display of the following: Information deemed reliable but not guaranteed accurate. Buyer to verify all information.

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