Bank of America cut its ratings and price targets on several homebuilders and building products companies as the firm is bracing for the "inevitable" coronavirus impact on the U.S. housing market.
Mortgage companies that borrow heavily to keep their operations running may face financial pressure from coronavirus-related market volatility as it affects the valuations of collateral securing their financing.
Consumer sentiment for home buying stayed near its record high behind low mortgage rates and a strong job market, though the declining stock markets and COVID-19 concerns may change that soon, according to Fannie Mae.
Even as concern over the rapid spread of the novel coronavirus mounts, the most recent data on area home sales from the Northwest Multiple Listing Service shows the market for Seattle-area residential realty remains hot.
Above-average snowfall and rising concerns about the coronavirus didn't put a damper on local home sales last month, according to the Denver Metro Association of Realtors.
While home price appreciation has lost some momentum, tight inventory and low rates could drive housing values further upward this spring if the coronavirus remains contained, according to CoreLogic.
Canada's housing market is poised for a hot spring — with lower mortgage rates likely to offset any major drag from the coronavirus.
Fears stemming from the coronavirus have resulted in lower mortgage rates and more business for now, but if the situation deteriorates further, consumers could decide to put off buying a home.
Attention is focused on the impact COVID-19 may have on economic growth in the United States in the short and long term.