This past week, the new coronavirus caused a big drop in financial markets, spurring the Federal Reserve to drop interest rates by half a percentage point and leaving many Redfin customers wondering about the impact an outbreak would have on the economy and the real estate market.
As a behavioral economist, I counsel people to avoid making rash decisions based on fear and uncertainty. Instead, make decisions based on your financial situation.
What’s going on with the housing market right now?
Before the coronavirus concerns started in the United States, the housing market was strong, with our agents reporting