Until Sunday, U.S. housing demand seemed unaffected by the coronavirus. The National Association of Realtors reported last week that pending home sales were at the second-highest level in the last two years. But over the past three days in Seattle, where the first U.S. coronavirus death was confirmed on Saturday, February 29, we’ve seen a significant drop in demand from homebuyers and sellers.
Smart People at Redfin Disagree About the Virus’s Impact
Redfin’s demand fluctuates plenty from day to day, especially in a single market, and this may only be a significant but short-lived reaction to the first serious virus