The U.S. is confronting what is likely to be the deadliest week so far in the coronavirus outbreak and with over 10 million new unemployment claims over the past two weeks the backdrop for the housing market is fairly bleak.
Yet somehow the stability in home-buying demand we saw last week has extended into this week. We measure home-buying demand by the annual growth rate in customers going on their first tour with a Redfin agent. For the seven days ending April 7, home-buying demand was down 26% compared to the prior year. When we reported on this number last