Coronavirus Forcing Changes To How People Sell Homes

The coronavirus pandemic is impacting the way homeowners sell their homes.

A new survey of realtors from the National Association of Realtors released Thursday found that nearly 25 percent of home sellers in the United States are making changes to how they are selling their houses. Changes include not holding open houses, requiring potential buyers to wash their hands, or asking buyers to remove shoes or wear foot coverings.

This is especially true in California and Washington, where the coronavirus outbreak hit earlier than elsewhere in the country. Forty-four percent of home sellers in Washington and 34 percent of sellers in California have made such changes.

The Economic Pulse Flash Survey, conducted Monday and Tuesday of this week, also found:

  • 78 percent said there has been no change in buyer interest due to the coronavirus.
  • 16 percent said buyer interest has decreased due to coronavirus, with members in California and Washington State citing larger decreases in buyer interest – 21 percent and 19 percent, respectively.
  • 87 percent said coronavirus has not affected the number of homes on the market.
  • In Washington State and California, 5 percent and 4 percent of members, respectively, reported homes were removed from the market. That figure is 3 percent for members nationwide.
  • 37 percent said lower mortgage rates excited home buyers much more than the stock market correction.

See the full survey here.