{"id":2519,"date":"2025-02-21T04:28:49","date_gmt":"2025-02-21T09:28:49","guid":{"rendered":"https:\/\/www.houzeo.com\/blog\/?p=2519"},"modified":"2025-04-28T03:48:40","modified_gmt":"2025-04-28T07:48:40","slug":"real-estate-and-coronavirus","status":"publish","type":"post","link":"https:\/\/www.houzeo.com\/blog\/real-estate-and-coronavirus\/","title":{"rendered":"What\u2019s the Impact of the Coronavirus Pandemic on the Real Estate Market?"},"content":{"rendered":"\n<p class=\"highlight\" class=\"margin-top-28\">The World Health Organization (WHO) has declared the Coronavirus infection a pandemic. Officially known as <a href=\"https:\/\/www.cdc.gov\/coronavirus\/2019-ncov\/downloads\/2019-ncov-factsheet.pdf\">COVID-19<\/a>, a flu-like epidemic that started in Wuhan, China, its effect is now global. And the world is now in a state of turmoil and fear with over a billion people confined in their homes. The United States has emerged as a major hot spot, with almost 302,000 testing positive and 8,175 deaths, as of <a aria-label=\"April 4, 2020 (opens in a new tab)\" href=\"https:\/\/en.wikipedia.org\/wiki\/2020_coronavirus_pandemic_in_the_United_States\" target=\"_blank\" rel=\"noreferrer noopener\">April 4, 2020<\/a>, along with the hike in death till January 2023.<\/p>\n\n\n\n<p>Almost all sectors of the economy are hit. And real estate is no exception. In this article we&#8217;ll look at the impact of the pandemic on real estate, and try to answer some questions our users have asked us in the past couple of weeks.<\/p>\n\n\n\n        <article class=\"rlItemwrap\">\n            <header class=\"rlHeading\">\n                <aside class=\"rlProfile\">\n                    <span class=\"profilePhoto  initialsText\">\n                        TG                    <\/span> \n                    <div>\n                        <h4>Tommy Gomez  <span class=\"rlpName\"><\/span><\/h4> \n                        <abbr class=\"rlpVerified\">Verified Reviewer<\/abbr>                         <div class=\"ratingstarwrap\">\n                            <div class=\"rating\"><img decoding=\"async\" alt=\"Rating 5\" width=\"110\" height=\"21\" data-src=\"https:\/\/www.houzeo.com\/images\/star-5.svg\" src=\"https:\/\/www.houzeo.com\/images\/star-5.svg\" lazy=\"loaded\"><\/div> \n                            <span> May 23, 2024<\/span>\n                        <\/div>\n                    <\/div>\n                <\/aside> \n                                <span class=\"rlPropertywrap\">\n                    <a href=\"https:\/\/www.houzeo.com\/homes\/47502-high-pt-truck-trl-aguanga-ca-92536\/hzid_8116258206\" target=\"_blank\" class=\"rlPopertyHead\" rel=\"noopener\"><span class=\"rlPropImg\">\n                        <img decoding=\"async\" alt=\"Property Image\" data-src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/seller\/listing\/uploads\/listing_images\/thumbnails\/thumbnail_43280_1715269797IMG-9760.jpeg\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/seller\/listing\/uploads\/listing_images\/thumbnails\/thumbnail_43280_1715269797IMG-9760.jpeg\" lazy=\"loaded\"><\/span> \n                        <div class=\"add-datewrap\">\n                            <h4>47502 High Point Truck Trail,Aguanga, CA 92536<\/h4> \n                            <span class=\"datetext-new\">Listed on  Nov 30, -0001<\/span>\n                        <\/div>\n                    <\/a>\n                <\/span>\n                            <\/header> \n            <div class=\"rliContent\">\n                <div class=\"reviewLIkeNot\">\n                                     <div class=\"tagsWrap\">\n                        <p class=\"whtilikeText\">What I Liked: <\/p> \n                                                <span class=\"tagText\">Responsive Customer Service<\/span>\n                                                <span class=\"tagText\">Fast Listing<\/span>\n                                                <span class=\"tagText\">Saved Money $<\/span>\n                                                <span class=\"tagText\">No Hidden Costs<\/span>\n                                                <span class=\"tagText\">Great Technology<\/span>\n                                                <span class=\"tagText\">Easy To Complete Documents<\/span>\n                         \n                   <\/div> \n                    \n                    <p class=\"commentText\">Wow! Saved over \n$20k listing it myself and you go through the same steps as though you had a listing agent do it.<\/p>\n                <\/div>\n            <\/div>\n        <\/article>\n\n\n\n\n\t\n\t<div class=\"newClosingCostBox fairMarkertCalc estimateMarket calculatorModal\">\n\t\t<p class=\"ClosingTitle\">Real Estate Commission Calculator <\/p>\t\n\t\t<div class=\"calcEstimateWrap\">\n\t\t\t<div class=\"newCloseValueBox calculatorFormModal CommissionError\">\t\n\t\t\t\t<div class=\"newAddWrap\">\n\t\t\t\t\t<div class=\"calcCloseWrap\">\n\t\t\t\t\t\t<div class=\"newCloseInputBox\">\t\n\t\t\t\t\t\t\t<span class=\"newCloseDollar\">\n\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/blog\/newBlog\/dollar-vector.svg\" alt=\"dollar\">\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<input type=\"text\" id=\"house_price\" name=\"propertyValue\" class=\"form-control\" placeholder=\"House price\" inputmode=\"numeric\">\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"newCloseInputBox\">\t\n\t\t\t\t\t\t\t<span class=\"newCloseDollar newPropCollar\">\n\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/blog\/newBlog\/hou-prop.svg\" alt=\"\">\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<input type=\"text\" id=\"commission\" name=\"ratePerThousand\" class=\"form-control\" placeholder=\"Commission (%)\" inputmode=\"numeric\">\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n                <span class=\"errorMsg InsurenceError\" style=\"display: none;\">Enter valid numbers for house price and commission.<\/span>\n\t\t\t\t<div class=\"newRoleButtonBox\">\n\t\t\t\t\t<button onclick=\"commissioncost()\" class=\"newRoleButton\">Get Estimate<\/button>\n\t\t\t\t<\/div>\t\n\t\t\t<\/div>\n\t\t\t<div class=\"calcFormulaBox\" id=\"CommCal\">\t\n\t\t\t\t<span class=\"firstCrack\"><\/span>\n\t\t\t\t\n\t\t\t\t<div class=\"calcEstCont spaceDiv\">\n\t\t\t\t\t<p>Commission amount<\/p>\n\t\t\t\t\t<div class=\"calcEstCostText\" id=\"first_value\">\n\t\t\t\t\t\t<div class=\"calcEstimg\">\n\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/ql-v4\/dollarBag.gif\" alt=\"money\">\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<span class=\"calcEstDollar\">$<\/span>\n\t\t\t\t\t\t<span class=\"dashedBox\">\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"greenValue\">476576<\/span>\n\t\t\t\t\t\t<span class=\"secondCrack\"><\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"calcEstCont\">\n\t\t\t\t\t<p>Owner receives<\/p>\n\t\t\t\t\t<div class=\"calcEstCostText\" id=\"second_value\">\n\t\t\t\t\t\t<div class=\"calcEstimg\">\n\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/ql-v4\/dollarBag.gif\" alt=\"money\">\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<span class=\"calcEstDollar\">$<\/span>\n\t\t\t\t\t\t<span class=\"dashedBox\">\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"greenValue\">476576<\/span>\n\t\t\t\t\t\t<span class=\"secondCrack\"><\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div> \n\t<script>\n\twindow.commissioncost = function () {\n\t\tvar house_price = parseFloat(document.getElementById(\"house_price\").value.replace(\/,\/g, ''));\n\t\tvar commission = parseFloat(document.getElementById(\"commission\").value.replace(\/,\/g, '')) \/ 100;\n\t\tvar errorSpan = document.querySelector(\".CommissionError .InsurenceError\");\n\n\t\tconst commCal = document.getElementById(\"CommCal\");\n\t\tconst firstValue = document.querySelector(\"#first_value span.greenValue\");\n\t\tconst secondValue = document.querySelector(\"#second_value span.greenValue\");\n\t\tconst dashed1 = document.querySelector(\"#first_value .dashedBox\");\n\t\tconst dashed2 = document.querySelector(\"#second_value .dashedBox\");\n\n\t\t\/\/ Reset result view\n\t\tfunction resetResult() {\n\t\t\tcommCal.classList.remove(\"active\", \"addAnimation\");\n\t\t\tfirstValue.style.display = \"none\";\n\t\t\tsecondValue.style.display = \"none\";\n\t\t\tdashed1.style.display = \"block\";\n\t\t\tdashed2.style.display = \"block\";\n\t\t}\n\n\t\tif (isNaN(house_price) && isNaN(commission)) {\n\t\t\terrorSpan.textContent = \"Enter valid numbers for house price and commission.\";\n\t\t\terrorSpan.style.display = \"block\";\n\t\t\tresetResult();\n\t\t} else if (isNaN(commission)) {\n\t\t\terrorSpan.textContent = \"Enter valid numbers for commission.\";\n\t\t\terrorSpan.style.display = \"block\";\n\t\t\tresetResult();\n\t\t} else if (isNaN(house_price)) {\n\t\t\terrorSpan.textContent = \"Enter valid numbers for house price.\";\n\t\t\terrorSpan.style.display = \"block\";\n\t\t\tresetResult();\n\t\t} else {\n\t\t\tvar realEstateCost = house_price * commission;\n\t\t\trealEstateCost = realEstateCost.toFixed(2);\n\t\t\tvar ownerCost = house_price - realEstateCost;\n\t\t\trealEstateCost = numberWithCommas(realEstateCost);\n\t\t\townerCost = numberWithCommas(ownerCost);\n\t\t\terrorSpan.style.display = \"none\";\n\n\t\t\tcommCal.classList.add(\"active\", \"addAnimation\");\n\t\t\tsetTimeout(() => {\n\t\t\t\tcommCal.classList.remove(\"addAnimation\");\n\t\t\t}, 5000);\n\n\t\t\t\/\/ Update result values\n\t\t\tfirstValue.innerHTML = realEstateCost;\n\t\t\tsecondValue.innerHTML = ownerCost;\n\t\t\tfirstValue.style.display = \"block\";\n\t\t\tsecondValue.style.display = \"block\";\n\t\t\tdashed1.style.display = \"none\";\n\t\t\tdashed2.style.display = \"none\";\n\t\t}\n\t}\n\n\tjQuery(document).ready(function() { \n\t\tformatInputField('#house_price', 12);\n\t\t\n\t\tjQuery('#commission').on('input', function () {\n\t\t\tlet value = jQuery(this).val();\n\t\t\n\t\t\t\/\/ Remove all invalid characters except numbers and decimal point\n\t\t\tvalue = value.replace(\/[^0-9.]\/g, '');\n\t\t\n\t\t\t\/\/ Ensure only one decimal point is present\n\t\t\tvalue = value.replace(\/(\\..*?)\\..*\/g, '$1');\n\t\t\n\t\t\t\/\/ Restrict to two decimal places\n\t\t\tconst parts = value.split('.');\n\t\t\tif (parts[1]?.length > 2) {\n\t\t\t\tparts[1] = parts[1].substring(0, 2);\n\t\t\t}\n\t\t\n\t\t\t\/\/ Join the parts back together\n\t\t\tvalue = parts.join('.');\n\t\t\n\t\t\t\/\/ Restrict the value to a maximum of 100\n\t\t\tif (parseFloat(value) > 10) {\n\t\t\t\tvalue = '10';\n\t\t\t}\n\t\t\n\t\t\t\/\/ Set the validated value back to the input field\n\t\t\tjQuery(this).val(value);\n\t\t});\n\t\t\n\t});\t\n\t\n\t<\/script>\n\t\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"h-coronavirus-a-quick-overview\"><strong>Coronavirus: A Quick Overview<\/strong><\/h2>\n\n\n\n<p>The novel Coronavirus impacts the respiratory system. Symptoms include fever, cough, and difficulty in breathing. Health experts have concluded that the virus spreads between people who are in close physical contact  <br>(within about 6 feet). Another possible reason the person can get COVID-19 infection is by touching a contaminated surface or object, and then touching their mouth, nose, or eyes. The virus can infect an individual via respiratory droplets that come from an infected person who sneezes or coughs.<\/p>\n\n\n\n<p>The virus has already claimed more than <a href=\"https:\/\/en.wikipedia.org\/wiki\/2019%E2%80%9320_coronavirus_pandemic\">64,000<\/a> lives worldwide as of April 4, 2020 and is <a href=\"https:\/\/www.worldometers.info\/coronavirus\/\">exponentially increasing<\/a>. Across the world, the impact is devastating on the global economy. If you\u2019ve heard the news, stocks have already plummeted, unemployment is increasing, and the number of businesses is now in bankruptcy. COVID-19 is significantly affecting several real estate companies as it spreads.<\/p>\n\n\n\n<p>In response to the COVID-19 pandemic, the National Association of Realtors (NAR) has made <a href=\"https:\/\/www.nar.realtor\/coronavirus\">guides and precautions<\/a> and a <a href=\"https:\/\/www.nar.realtor\/sample-preparedness-plan-for-circumstances-relating-to-covid-19\">Sample Preparedness Plan<\/a> for realtor\u2019s associations to accommodate clients and employees.  Here is a compiled information on the real estate market&#8217;s condition to make an informed decision.<\/p>\n\n\n                <div class=\"newClosingCostBox fairMarkertCalc assessedCalc calculatorModal\">\n\t\t\t\t\t<p class=\"ClosingTitle\">Assessed Value Estimator <\/p>\t\n\t\t\t\t\t<div class=\"calcEstimateWrap\">\n\t\t\t\t\t\t<div class=\"newCloseValueBox calculatorFormModal AssetError\">\t\n\t\t\t\t\t\t\t\t<div class=\"newCloseInputBox\">\t\n\t\t\t\t\t\t\t\t\t<span class=\"newCloseDollar\">\n\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/blog\/newBlog\/dollar-vector.svg\" alt=\"dollar\">\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<input type=\"text\"  id=\"marketValue\" name=\"marketValue\" class=\"form-control\" placeholder=\"Enter Fair Market Value\" inputmode=\"numeric\">\t\t\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<span class=\"errorMsg AssetCalError\" style=\"display: none;\">Enter valid numbers for fair market value.<\/span>\n\t\t\t\t\t\t\t\t<div class=\"annualWrap\">\n\t\t\t\t\t\t\t\t\t<div class=\"leftInptAnnual leftPrice\"><div class=\"annualTooltip\">\n\t\t\t\t\t\t\t\t\t\t<label class=\"annualLabel mortgageLabel\">Assessment Rate (%)<\/label> \n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t <div class=\"affordLeftInpt\">\n\t\t\t\t\t\t\t\t\t\t \t<p class=\"lftPara\">Value<\/p> \n\t\t\t\t\t\t\t\t\t\t\t <span class=\"affordInptAnnual\"><span id=\"demo\">80<\/span> <span class=\"font-black\">%<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t <\/div> \n\t\t\t\t\t\t\t\t\t\t <div class=\"annualSliderRange\">\n\t\t\t\t\t\t\t\t\t\t \t<input type=\"range\" min=\"1\" max=\"100\" value=\"80\" class=\"progress progress3 slider\" id=\"assessmentRate\"> \n\t\t\t\t\t\t\t\t\t\t \t <div class=\"inpurperCent\">\n\t\t\t\t\t\t\t\t\t\t \t\t<span class=\"dataValue\">1%<\/span> \n\t\t\t\t\t\t\t\t\t\t \t\t<span class=\"dataValue\">100%<\/span>\n\t\t\t\t\t\t\t\t\t\t \t<\/div> \n\t\t\t\t\t\t\t\t\t\t <\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<div class=\"newRoleButtonBox\">\n\t\t\t\t\t\t\t\t<button class=\"newRoleButton\" onclick=\"calculateassessedvalue()\">\tCalculate<\/button>\n\t\t\t\t\t\t\t<\/div>\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"calcFormulaBox\" id=\"AssessedValue\">\t\n\t\t\t\t\t\t\t<span class=\"firstCrack\"><\/span>\n\t\t\t\t\t\t\t<div class=\"calcEstimg\">\n\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/ql-v4\/dollarBag.gif\" alt=\"money\">\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"calcEstCont\">\n\t\t\t\t\t\t\t\t<p>The Assessed Value of your home is<\/p>\n\t\t\t\t\t\t\t\t<div class=\"calcEstCostText\" id=\"answer\">\n\t\t\t\t\t\t\t\t\t<div class=\"calcEstimg\">\n\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/ql-v4\/dollarBag.gif\" alt=\"money\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<span class=\"calcEstDollar\">$<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"dashedBox\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"dashColor\"><\/span>\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"greenValue\">476576<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"secondCrack\"><\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div> \n\t\t<script>\n\t\n\t\n        var slider = document.getElementById(\"assessmentRate\");\n        var output = document.getElementById(\"demo\");\n        output.innerText  = slider.value;\n        slider.oninput = function () {\n            output.innerText  = this.value;\n        };\n        window.calculateassessedvalue = function() {\n\t\t\tvar marketValue = document.getElementById(\"marketValue\").value.replace(\/,\/g, '');\n\t\t\tvar assessmentRate = document.getElementById(\"assessmentRate\").value;\n\n\t\t\tif (!isNaN(marketValue) && marketValue > 0) {\n\t\t\t\tvar assessedValue = (marketValue * assessmentRate \/ 100);\n\t\t\t\tassessedValue = numberWithCommas(assessedValue);\n\t\t\t\t\n\t\t\t\t\/\/ Update the input field with the calculated value\n\t\t\t\tdocument.querySelector(\"#answer span.greenValue\").innerHTML = assessedValue;\n\t\t\t\tdocument.querySelector(\"#answer span.greenValue\").style.display = \"block\";\n\t\t\t\tdocument.querySelector(\".AssetError .errorMsg\").style.display= \"none\";\n\t\t\t\t\n\t\t\t\t\/\/ Hide the dashed box\n\t\t\t\tdocument.querySelector(\"#answer .dashedBox\").style.display = \"none\";\n\t\t\t\t\n\t\t\t\tvar assessedValueElement = document.querySelector(\"#AssessedValue\");\n\t\t\t\tdocument.querySelector(\"#AssessedValue\").classList.add(\"active\", \"addAnimation\");\n\t\t\t\t\n\t\t\t\tsetTimeout(function () {\n\t\t\t\t\tdocument.querySelector(\"#AssessedValue\").classList.remove(\"addAnimation\");\n\t\t\t\t}, 4000);\n\t\t\t} else{\n\t\t\t\tdocument.querySelector(\".AssetError .errorMsg\").style.display= \"block\";\n\t\t\t\tdocument.querySelector(\"#AssessedValue\").classList.remove(\"active\", \"addAnimation\");\n\t\t\t\tdocument.querySelector(\"#answer .dashedBox\").style.display = \"block\";\n\t\t\t\tdocument.querySelector(\"#answer span.greenValue\").style.display = \"none\";\n\t\t\t}\n\t\t\t\n\t\t}\n\t\tjQuery(document).ready(function() { \n\t\t\tformatInputField('#marketValue', 12);\n\n\t\t\t\/\/ input progress\n\t\t\tprogressChange();\n\n\t\t});\t\n\t\tfunction progressChange() {\n\t\t\tconst progress = document.querySelector('.progress');\n\t\t\tupdateBackground(progress);\n\t\t\tprogress.addEventListener('input', function () {\n\t\t\t\tupdateBackground(this);\n\t\t\t});\n    \t}\n\n\t\tfunction updateBackground(slider) {\n\t\t\tconst value = ((slider.value - slider.min) \/ (slider.max - slider.min)) * 100;\n\t\t\tslider.style.background = `linear-gradient(90deg, #0b5aa5 0%, #0b5aa5 ${value}%, transparent ${value}%, transparent)`;\n\t\t}\n\t\n    <\/script>  \n                \n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-current-condition-of-the-real-estate-market\"><strong>Current Condition of the Real Estate Market<\/strong><\/h2>\n\n\n\n<p>People conduct real estate transactions, including open houses, closings, and showings, in person. Due to the threat of the virus, most of the states are now implementing extreme procedures to contain COVID-19. Several state officials have issued &#8220;Stay at Home&#8221; directives and commanded most businesses to work from their homes, real estate agents included. Restrictions are in place for most real estate transactions that require in-person contact.<\/p>\n\n\n\n<p>Due to coronavirus, states like California and New York have now banned in-person real estate business outside, i.e. showings. However, the states of Ohio, Wisconsin, Indiana, Hawaii, and Connecticut listed real estate as an essential business and therefore continues to operate. While other states are still indecisive of the next procedure. <\/p>\n\n\n\n<p>In response to the outbreak, authorities have now implemented travel restrictions and are conducting quarantine procedures. Several real estate transactions are now delayed or slowed down as a result. 31% drop in sales was reported in New York from 2018 to 2019.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-covid-19-government-responses\">COVID-19 Government Responses<\/h3>\n\n\n\n<p>Around the world, governments are taking significant relief measures to help the real estate sector. In the U.S., Congress has made a special financial package to assist construction workers. Although building and construction are labeled as a \u201cnon-essential service\u201d, the government still chose to offer a hand. While in Canada, the government has provided $27 billion and safety guidelines for direct support to Canadian workers and laborers. Ontario, for instance, was included in the \u201cessential services list\u201d\u2014and was, therefore, given proper aid, the same with countries like UAE, Germany, and France.<\/p>\n\n\n\n<p>In these times of global upheaval and crisis, the government across the world has provided special funding or welfare package. <\/p>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"h-impact-of-covid-19-to-home-buyers-and-sellers\"><strong>Impact of COVID-19 to Home Buyers and Sellers<\/strong><\/h2>\n\n\n\n<p>According to Glenn S. Philips, CEO and lead economic analyst for <a rel=\"noreferrer noopener\" href=\"https:\/\/www.lakehomes.com\/\" target=\"_blank\">Lake Homes Realty<\/a>, \u201cThe housing market in each state we operate has clearly been impacted by COVID-19. However, we believe the impact to date is negligible compared to the upcoming months.\u201d This means that the numbers will still drop dramatically due to the fear of contamination from the prospects, brokers and even from the homeowners that may potentially be virus carriers.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" width=\"840px\" height=\"450px\" src=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/1.11-844x1024.jpg\" alt=\"coronavirus and real estate\" class=\"wp-image-2532\" height=\"916\" srcset=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/1.11-844x1024.jpg 844w, https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/1.11-247x300.jpg 247w, https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/1.11-768x931.jpg 768w, https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/1.11.jpg 1231w\" sizes=\"auto, (max-width: 844px) 100vw, 844px\" \/><figcaption>Sources: Fritz Frigan (Executive Director of Sales &#8211; <a href=\"https:\/\/www.halstead.com\/about-us\/reports-and-publications\">Halstead Real Estate<\/a>, New York City) <a href=\"https:\/\/www.point2homes.com\/US\">Point2 Homes Survey<\/a> <\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"margin-top-28\">The National Association of REALTORS<sup>\u00ae <\/sup>(NAR) reported that there\u2019s been a decline in buyer\u2019s interest as strict preventive measures and guidelines were implemented. By March 16, <a href=\"https:\/\/www.nar.realtor\/newsroom\/nar-survey-finds-nearly-half-of-realtors-say-home-buyer-interest-has-decreased-due-to-the\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"almost half of agents (opens in a new tab)\">almost half of agents<\/a> reported that some buyers are now hesitant to purchase properties\u2014fearing the pandemic\u2019s threat. <\/p>\n\n\n\n<p>Homebuyers are also wary of listed properties that sit on the market for a long time. Whether it\u2019s just the bad economy or price, most buyers tend to make negative assumptions.  <\/p>\n\n\n\n<p>What\u2019s more, the supply lines that mostly come from China have been interrupted and in on-hold. &nbsp;In other words, there would be several delays in homebuilding. &nbsp;Moreover, can lead to the scarcity of resources or supplies. <\/p>\n\n\n\n<p>Amidst the unprecedented impact, there\u2019s still a positive note to consider. Currently, the market competition is perfect for home buyers. The mortgage rate marks the lowest level and more people could purchase an affordable home. Most sellers are still at the fear of the pandemic threat. As the outbreak deepens, a lot of opportunities are available and could still help save economic growth.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" width=\"840px\" height=\"450px\" src=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/2.2-901x1024.jpg\" alt=\"coronavirus and real estate\" class=\"wp-image-2533\" height=\"830\" srcset=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/2.2-901x1024.jpg 901w, https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/2.2-264x300.jpg 264w, https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/2.2-768x873.jpg 768w, https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2020\/04\/2.2.jpg 1231w\" sizes=\"auto, (max-width: 901px) 100vw, 901px\" \/><figcaption>Sources:Fritz Frigan (Executive Director of Sales &#8211; <a href=\"https:\/\/www.halstead.com\/about-us\/reports-and-publications\">Halstead Real Estate<\/a>, New York City) and <a href=\"https:\/\/www.point2homes.com\/US\">Point2 Homes Survey<\/a> <\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"h-how-agents-are-handling-the-covid-19-crisis\"><strong>How Agents are Handling the COVID-19 Crisis<\/strong><\/h2>\n\n\n\n<p>The NAR\u00ae has issued a preparedness plan to minimize the risk relating to COVID-19. Most of the staff are currently working from home and shall wait for further notice. The association has also made plans in addressing reports of the virus and provided a <a href=\"https:\/\/www.nar.realtor\/coronavirus\/guide-for-realtors\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Guide for Realtors (opens in a new tab)\">Guide for Realtors<\/a> and the <a href=\"https:\/\/www.nar.realtor\/political-advocacy\/coronavirus-unemployment-assistance-cares-act-faqs\">Unemployment Assistance CARES Act FAQs<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-preventive-measures-that-help-protect-agents-and-clients-from-the-spread-of-the-virus\">Preventive measures that help protect agents and clients from the spread of the virus<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Wash your hands regularly and thoroughly with soap and water (for 20 seconds duration). You can also use an alcohol-based hand sanitizer to eradicate the virus. <\/li><li>Never touch or rub your eyes, and even your nose and mouth if you still haven\u2019t washed your hands yet. <\/li><li> Stay out of crowded places, group gatherings, and always practice social distancing (approximately 6 feet away). <\/li><li>Remember to cover your mouth and nose when you want to sneeze or cough.<\/li><li>Don\u2019t travel or go out when you feel sick. Stay at home if ever you have a fever, cough, shortness of breath, or flu-like symptoms. <\/li><li>Avoid physical contact with people who are sick. <\/li><\/ul>\n\n\n\n<p>If you want more updates and information about the National Association of REALTORS\u00ae in response to coronavirus for the real estate market, you can check the details <a href=\"https:\/\/www.nar.realtor\/coronavirus\">here<\/a>.<\/p>\n\n\n<div class=\"calculatorMainWrap houzeoIdealCalc\">\n\t\t\t\t\t<form action=\"\" class=\"calculatorForm\">\n\t\t\t\t\t\t<div class=\"topTagText\"><span>New!<\/span><\/div>\n\t\t\t\t\t\t<p class=\"houzeoIdealTitle\">Test<\/p>\n\t\t\t\t\t\t<div class=\"salePrice\">\n\t\t\t\t\t\t\t<button class=\"saleCalculate\" type=\"button\">Calculate<\/button>\n\t\t\t\t\t\t\t<div class=\"inputBox\">\n\t\t\t\t\t\t\t\t<span class=\"houinputBoxDollar\">\n\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/blog\/newBlog\/dollar-vector.svg\" alt=\"dollar\">\n\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<input id=\"number-separator\" type=\"text\" placeholder=\"Enter Your Home Sale Price\"  oninput=\"formatNumber(this)\" value=\"500000\" min =\"10000\" step=\"10000\" class=\"homePrice number-separator\"   \/>\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<span class=\"errorMsg\">Please enter your home price<\/span>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div> \n\t\t\t\t\t\t<div class=\"wrapAgent\">\n\t\t\t\t\t\t<div class=\"agentList\">\n\t\t\t\t\t\t\t<ul>\n\t\t\t\t\t\t\t\t<li class=\"listingFeeText\">\n\t\t\t\t\t\t\t\t\t<span class=\"listingFeeSpanText\">Listing Fee<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"listingFeeSpanText\">Flat Fee<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"listingFeeSpanText\">Percent<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2024\/11\/simple-fee-listings-1.webp\" alt=\"Traditional Agent\">\n\t\t\t\t\t\t\t\t\t<p>$<abbr class=\"tac\">799<\/abbr><\/p>\n\t\t\t\t\t\t\t\t\t<p><abbr class=\"tacp\">1<\/abbr>%<\/p>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2024\/09\/Lafayette-150x150.webp\" alt=\"idealagent\">\n\t\t\t\t\t\t\t\t\t<p>$<abbr class=\"iac\">0<\/abbr><\/p>\n\t\t\t\t\t\t\t\t\t<p><abbr class=\"iacp\">3<\/abbr>%<\/p>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/blog\/newBlog\/hou-logo.svg\" alt=\"Traditional Agent\">\n\t\t\t\t\t\t\t\t\t<p>$<abbr class=\"hc\">399<\/abbr><\/p>\n\t\t\t\t\t\t\t\t\t<p><abbr class=\"hcp\"><\/abbr>%<\/p>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"savingContentWrap\">\n\t\t\t\t\t\t    <img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/ql-v4\/dollarBag.gif\" class=\"dollarBagImage\">\n\t\t\t\t\t\t\t<div class=\"saveMainContent\">\n\t\t\t\t\t\t\t\t<p class=\"savingsTitleText colorBlue\">Your savings via Houzeo<\/p>\n\t\t\t\t\t\t\t\t<div class=\"saveStrong\">\t\n\t\t\t\t\t\t\t\t\t<strong class=\"colorBlue saveAmount  dsfd\">$<span id=\"saveAmountTA\"><\/span><\/strong>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<p class=\"savesYouText\">Houzeo saves you $<span id=\"saveAmountIA\">9,705<\/span> more than <span \n\t\t\t\t\t\t\t\tid=\"savingHigh\" data-comp1-name=\"abc\" data-comp2-name=\"xyz\">xyz<\/span>!<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<a href=\"https:\/\/www.houzeo.com\/register\" target=\"_blank\" class=\"listingNowBtn\" rel=\"noopener\">\n\t\t\t\t\t\t\t<span>Start Your Free Houzeo Listing Now <img decoding=\"async\" src=\"https:\/\/www.houzeo.com\/images\/blogSideBar\/rightArrow.webp\" alt=\"Arrow Icon\" \/><\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/form>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<script>\n\t\t\t\t    \n\t\t\t\t\tlet inputTab = document.querySelector(\"#number-separator\");\n\t\t\t\t\t\n\t\t\t\t\tfunction completeCalculation() {\n\t\t\t\t\t\terrorMsg();\n\t\t\t\t\t\tif (inputTab.value == \"\") {\n\t\t\t\t\t\t\tdocument.querySelector(\".inputBox .errorMsg\").innerHTML = \"Please enter a valid home price\";\n\t\t\t\t\t\t\tdocument.querySelector(\"#saveAmountTA\").innerHTML = 0;\n\t\t\t\t\t\t\tdocument.querySelector(\"#saveAmountIA\").innerHTML = 0;\n\t\t\t\t\t\t\treturn;\n\t\t\t\t\t\t}\n\n\t\t\t\t\t\tlet x = inputTab.value;\n\t\t\t\t\t\tlet y = x.replace(\/\\,\/g, \"\");\n\n\t\t\t\t\t\tif (isNaN(y)) {\n\t\t\t\t\t\t\tdocument.querySelector(\".inputBox .errorMsg\").style.display = \"block\";\n\t\t\t\t\t\t\tdocument.querySelector(\".inputBox .errorMsg\").innerHTML = \"Please enter a valid home price\";\n\t\t\t\t\t\t\treturn;\n\t\t\t\t\t\t} else {\n\t\t\t\t\t\t\tlet houseValue = parseInt(y);\n\n\t\t\t\t\t\t\t\/\/ Get flat fees and percentages from DOM\n\t\t\t\t\t\t\tlet tacFlat = parseFloat(document.querySelector(\".tac\").innerHTML.replace(\/[^0-9.]\/g, \"\")) || 0;\n\t\t\t\t\t\t\tlet tacPercent = parseFloat(document.querySelector(\".tacp\").innerHTML.replace(\/[^0-9.]\/g, \"\")) || 0;\n\n\t\t\t\t\t\t\tlet iacFlat = parseFloat(document.querySelector(\".iac\").innerHTML.replace(\/[^0-9.]\/g, \"\")) || 0;\n\t\t\t\t\t\t\tlet iacPercent = parseFloat(document.querySelector(\".iacp\").innerHTML.replace(\/[^0-9.]\/g, \"\")) || 0;\n\n\t\t\t\t\t\t\tlet hcFlat = parseFloat(document.querySelector(\".hc\").innerHTML.replace(\/[^0-9.]\/g, \"\")) || 0;\n\t\t\t\t\t\t\tlet hcPercent = parseFloat(document.querySelector(\".hcp\").innerHTML.replace(\/[^0-9.]\/g, \"\")) || 0;\n\n\t\t\t\t\t\t\t\/\/ Calculate total agent costs\n\t\t\t\t\t\t\tlet tac = tacFlat + (houseValue * tacPercent \/ 100);\n\t\t\t\t\t\t\tlet iac = iacFlat + (houseValue * iacPercent \/ 100);\n\t\t\t\t\t\t\tlet hc = hcFlat + (houseValue * hcPercent \/ 100);\n\n\t\t\t\t\t\t\t\/\/ Calculate savings\n\t\t\t\t\t\t\tlet savingAmountTAC = Math.round(tac - hc);\n\t\t\t\t\t\t\tlet savingAmountIAC = Math.round(iac - hc);\n\n\t\t\t\t\t\t\t\/\/ Output formatted savings\n\t\t\t\t\t\t\tlet savingHighSpan = document.querySelector(\"#savingHigh\");\n\t\t\t\t\t\t\tlet comp1Name = savingHighSpan.getAttribute(\"data-comp1-name\");\n\t\t\t\t\t\t\tlet comp2Name = savingHighSpan.getAttribute(\"data-comp2-name\");\n\n\t\t\t\t\t\t\tif (savingAmountTAC >= savingAmountIAC) {\n\t\t\t\t\t\t\t\tdocument.querySelector(\"#saveAmountTA\").innerHTML = savingAmountTAC.toLocaleString(\"en\", { useGrouping: true });\n\t\t\t\t\t\t\t\tdocument.querySelector(\"#saveAmountIA\").innerHTML = savingAmountIAC.toLocaleString(\"en\", { useGrouping: true });\n\t\t\t\t\t\t\t\tsavingHighSpan.innerText = comp2Name; \/\/ Smaller value company\n\t\t\t\t\t\t\t} else {\n\t\t\t\t\t\t\t\tdocument.querySelector(\"#saveAmountTA\").innerHTML = savingAmountIAC.toLocaleString(\"en\", { useGrouping: true });\n\t\t\t\t\t\t\t\tdocument.querySelector(\"#saveAmountIA\").innerHTML = savingAmountTAC.toLocaleString(\"en\", { useGrouping: true });\n\t\t\t\t\t\t\t\tsavingHighSpan.innerText = comp1Name; \/\/ Smaller value company\n\t\t\t\t\t\t\t}\n\n\t\t\t\t\t\t\t\/\/ Format input\n\t\t\t\t\t\t\tlet temp = document.getElementById(\"number-separator\").value;\n\t\t\t\t\t\t\tif (temp && \/^[0-9.,]+$\/.test(temp)) {\n\t\t\t\t\t\t\t\ttemp = parseInt(temp.replaceAll(\",\", \"\")).toFixed(2).replace(\/(\\d)(?=(\\d{3})+\\.)\/g, \"$1,\");\n\t\t\t\t\t\t\t\tdocument.getElementById(\"number-separator\").value = temp.replace(\".00\", \"\");\n\t\t\t\t\t\t\t} else {\n\t\t\t\t\t\t\t\tdocument.getElementById(\"number-separator\").value = \"\";\n\t\t\t\t\t\t\t}\n\t\t\t\t\t\t}\n\t\t\t\t\t}\n\n\t\t\t\t\t\n\t\t\t\t\tdocument.getElementById(\"number-separator\").addEventListener(\"keydown\", function(event) {\n\t\t\t\t\t\tif (event.key === \"Enter\") {\n\t\t\t\t\t\t\tevent.preventDefault(); \/\/ Prevent form submission\n\t\t\t\t\t\t}\n\t\t\t\t\t});\n\t\t\t\t\t\n\t\t\t\t\tconst calculateButton = document.querySelector(\".saleCalculate\");\n\t\t\t\t\tcalculateButton.addEventListener(\"click\", function() {\n\t\t\t\t\t   \n\t\t\t\t\t\tcompleteCalculation();\n\t\t\t\t\t});\n\n\t\t\t\t\tfunction errorMsg() {\n\t\t\t\t\t\tif (inputTab.value < 10000) {\n\t\t\t\t\t\t\tdocument.querySelector(\".inputBox .errorMsg\").style.display = \"block\";\n\t\t\t\t\t\t} else { \n\t\t\t\t\t\t\tdocument.querySelector(\".inputBox .errorMsg\").style.display = \"none\";\n\t\t\t\t\t\t}\n\t\t\t\t\t\n\t\t\t\t\t}\n\t\t\t\t\tsetTimeout(function() {\n\t\t\t\t\t\tcompleteCalculation();\n\t\t\t\t\t}, 1000);\n\t\t\t\t<\/script>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"h-how-american-home-sellers-buyers-are-responding-to-the-pandemic\"><strong>How American Home Sellers &amp; Buyers are Responding to the Pandemic<\/strong><\/h2>\n\n\n\n<p>Despite the threat of this global pandemic, there are still people who are looking to purchase a home. Homebuyers, mostly, utilize virtual tools and showings. Sellers too are still looking for homes online. The typical transactions are now done on the web, from online forms to showings.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-style-default is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cThere are still sales. People will always need to find people always needing to sell. They could get job transfers, getting into a new school year. It\u2019s always going to be buyers and sellers having to do\u201d  <\/p><cite> Arizona Realtor Association President Mary Roberts claimed. <\/cite><\/blockquote>\n\n\n\n<p>Each day, the impact of coronavirus to real estate will change how home buying works. But since the average contract interest rate for 30-year fixed-rate mortgages are now decreasing, people are now rushing to refinance. If you\u2019re a homeowner, you might opt to consider refinancing while the rates are still low. <\/p>\n\n\n\n<p>Fortunately, there\u2019s an online portal that could list your home for an ultra-cheap price. <a href=\"https:\/\/www.houzeo.com\/login\">Houzeo<\/a>, for example, is a startup company that specializes in <a href=\"https:\/\/www.houzeo.com\/FOR-SALE-BY-OWNER\">For Sale By Owner<\/a> and <a href=\"https:\/\/www.houzeo.com\/flat-fee-mls\">Flat Fee MLS Service<\/a>. The company\u2019s goal is to bring the real estate process to your fingertips, making most transactions digital wherever possible. The overall process is simple and straightforward, from basic Flat Fee MLS listing to Full-Service listing.<\/p>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"h-the-future-of-the-real-estate-market\"><strong>The Future of the Real Estate Market <\/strong><\/h2>\n\n\n\n<p>Although real estate continues to change hands across all states, the effect of the coronavirus and the stay-at-home order is clearly massive. Since most of the agencies and government offices are in shutdown, realtors, home inspectors, and sellers are struggling to complete transactions. The spring sales season, however, will not completely come to a halt. Some sellers will try to temporarily pull off their homes, while others still list their homes via full service brokers or a <a href=\"https:\/\/www.houzeo.com\/flat-fee-mls\">Flat Fee MLS service<\/a>. <\/p>\n\n\n\n<p>But once the cases drop (and the travel restrictions) and stay-at-home orders are lifted, almost every business will slowly creep back to normal. Several retail and sectors will soon be gearing up. There will be a flock of sellers and buyers again ready to compete in the market. Looking forward, realtors are now tested on how quickly they can recover with their resources after the pandemic. <\/p>\n\n\n\n<p>As of now, it\u2019s important to follow procedures and minimize physical contact. Real estate leaders should prioritize the health and safety of its people first. Remote work must be implemented to complete the usual real estate market transactions. And hopefully, pharmaceutical and biologics companies across the world can find and develop a vaccine for COVID-19. <\/p>\n\n\n\n<p>To the different financial and real estate markets, it\u2019s now a challenge on how to adapt and respond to global pressure and the threat of coronavirus. Since time immemorial, the epidemic is nothing new to mankind. During the year 2003, a severe acute respiratory syndrome or SARS had also made a large impact on the economy. Same as today, mortgage interest rates also hit relative lows. But despite business shutdowns and temporary on-hold transactions, people still find innovative ways to continue operating. Though the real estate industry is currently facing constraints, the market will eventually bounce back\u2014sooner or later\u2014in the next few months after the mandated shelter-in-place orders are lifted.<\/p>\n\n\n\n<div class=\"wp-block-houzeo-youtube-text-button mainVideoSec\"><div class=\"leftBlockVideo\"><iframe src=\"https:\/\/www.youtube.com\/embed\/I9w35jNvkYU\" frameborder=\"0\" allowfullscreen><\/iframe><\/div><div class=\"rightBlockVideo\"><p class=\"VideoHead\">Title Here<\/p><p class=\"VideoText\">Hi this should work<\/p><a class=\"btnNewVideo\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/youtu.be\/I9w35jNvkYU?feature=shared\">Test<\/a><\/div><\/div>\n\n\n\n<p>In the meantime, here are some answers to some frequently asked questions we&#8217;ve heard in the past few weeks.<\/p>\n\n\n\n<div class=\"wp-block-houzeo-youtube-text-without-info mainVideoSec  hide-title\"><div class=\"FullBlockVideo\"><iframe src=\"https:\/\/www.youtube.com\/embed\/I9w35jNvkYU\" frameborder=\"0\" allowfullscreen><\/iframe><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"new-excerpt\"><p class=\"small-desc\">The World Health Organization (WHO) has declared the Coronavirus infection a pandemic. Officially known as COVID-19, a flu-like epidemic that started in Wuhan, China, its effect is now global. And the world is...<\/p><\/div><div class=\"reading_date\"><span class=\"readtime\">9 mins read<\/span><span class=\"date\">Feb 21, 2025<\/span><\/div>","protected":false},"author":13,"featured_media":431939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46226],"tags":[],"class_list":["post-2519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-seller"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Impact of the Coronavirus Pandemic on the Real Estate Market<\/title>\n<meta name=\"description\" content=\"Coronavirus has impacted the real estate market deeply. Covid-19 had shown a rapid decline in real estate transactions throughout the world.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.houzeo.com\/blog\/real-estate-and-coronavirus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Impact of the Coronavirus Pandemic on the Real Estate Market\" \/>\n<meta property=\"og:description\" content=\"Coronavirus has impacted the real estate market deeply. Covid-19 had shown a rapid decline in real estate transactions throughout the world.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.houzeo.com\/blog\/real-estate-and-coronavirus\/\" \/>\n<meta property=\"og:site_name\" content=\"Houzeo Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-21T09:28:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-28T07:48:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2023\/11\/Whats-the-Impact-of-the-Coronavirus-Pandemic-on-the-Real-Estate-Market.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"810\" \/>\n\t<meta property=\"og:image:height\" content=\"435\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Aditya Agarwal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aditya Agarwal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Impact of the Coronavirus Pandemic on the Real Estate Market","description":"Coronavirus has impacted the real estate market deeply. 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