One segment of the market, at least, has proved more resilient than many feared early on in the crisis.
Residential estate brokers and agents are scrambling to determine what Massachusetts Gov. Charlie Baker's emergency order means for their industry.
With ambiguity surrounding the length of the COVID-19 outbreak and damage it will cause, consumers are becoming diffident in taking out a mortgage for a major purchase, according to Zillow.
There was a nearly 30% week-to-week decline in loan applications as Americans reacted to the uncertainty, both economic and medical, from the spread of COVID-19, according to the Mortgage Bankers Association.
Sales of previously owned homes surged in February to the fastest pace in 13 years, highlighting a flurry of activity in the housing market before the economic repercussions of the coronavirus.
Southern California's 2020 housing market got off to a good start before the pandemic shook the economy in mid-February, CoreLogic figures show, with both prices and home sales up in the six-county region from February 2019 levels.
New-home construction exceeded forecasts in February, underscoring momentum in the industry a month before the coronavirus pandemic injected uncertainty into the economy.
Ramifications of a global pandemic are starting to ripple through the Southern California housing market as virtual home tours replace in-person showings and homeowners cancel open houses to avoid coming face-to-face with potentially infected home shoppers.
Mortgage applications to purchase new homes took a small step back in February from record levels during the previous month, but further positive momentum could be blunted by the coronavirus.
With small businesses feeling the financial scourge of the coronavirus, bridge loans could be the direction they turn to keep things afloat.