Agents are hungry to know the truth about what is happening due to COVID-19. At the onset of the pandemic, the California Association of Realtors (CAR) quickly pivoted to provide a steady stream of market data and survey research assessing exactly what their members were experiencing. This week Bernice and Greg sit down with CAR’s Vice President and Chief Economist Leslie Appleton Young for an in-depth analysis as to how their 200,000 members are faring in the COVID-19 pandemic as well as an analysis of the current economic situation. Here’s what she will be covering:
- How the pandemic has impacted prices, closings, and number of listings.
- Why the market is still about supply—the demand is still there.
- Differences between the “old-world” (Pre-COVID-19) and “new world,” (Post COVID-19)
- The upsides and the downsides of the lockdown and how it has influenced how people feel about their homes.
- Impacts on mortgages, debt relief, and the squeeze on investors and loan servicers.
- “New world” opportunities: how the number of retail shopping areas may provide an avenue to provide relief to the housing affordability crunch.