The novel coronavirus and resulting economic fallout is sure to have some effect on the local housing market, but, with rapidly changing conditions, it’s unclear just what they will be.
As COVID-19 testing capabilities ramp up, more and more cases are being confirmed across the U.S, prompting precautionary public health responses such as Ohio’s ban on mass gatherings and closure of schools. Meanwhile, the stock market has experienced massive fluctuations, earlier this week experiencing its biggest crash since 1987 before rallying Friday on the declaration of a national state of emergency. Mortgage rates rose this week after dropping to their lowest levels on record as investors reacted to the pandemic.
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