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Should You Buy a House in this Economic Climate?
The COVID-19 outbreak has sent the world into an economic turmoil. There have been many changes that have changed the way many people and businesses operate. Furthermore, with the extreme measures such as quarantine and social distancing, many home buyers and sellers have now been left wondering of their next step. However, economic crises and falling property prices aren't a new experience. There have been several recessions in the past that saw home prices fall drastically, and buyers benefit. But the big question is, should you buy a house with all these economic craziness or hold on a bit? This article outlines crucial aspects that can help you make a wise decision.
 
The Impact of COVID-19 in Real Estate Market
 
The housing market is among the industries that have been affected by the coronavirus pandemic. The situation has seen a drop in home searches by clients as well as delayed listings. A recent survey by an Economic Pulse, NAR Flash Survey shows that about 48 per cent of realtors have noticed a decreasing trend in home buyers' interest due to the pandemic. On the other hand, the same survey indicates that nearly 45 percent of real estate agents believe that the availability of ... more

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