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How Will A Post-Corona Virus Recession Impact The Housing Market?

By Nina Hollander, Broker

Real Estate Agent with Coldwell Banker Realty

March 20, 2020 07:32 AM

How Will A Post-Corona Virus Recession Impact The Housing Market?

Perhaps Differently Than You Might Be Thinking...

Corona Virus/COVID-19 has turned all of our lives upside down. This global pandemic has changed our current daily lives in different and unexpected ways and we are all in this together -- no one is unaffected. During this time of uncertainty, please be assured that I’m committed to serving you and helping you navigate this challenging time and the days beyond.

I know whether you are a homeowner with no plans to move right now or have been preparing to buy or sell a home, the current environment is likely causing stress for many of you. During this time of uncertainty surrounding coronavirus (COVID-19), please remember that I and Coldwell Banker® are committed to serving you with the same level of dedication and care that you have come to know and expect. For over a century, “guiding our clients home” has been our purpose.

I've spoken with a number of my clients this week who were looking to find out more about where the housing market is headed, especially if we experience a post-COVID-19 recession. At this point in time we are watching the market day by day and have no definitive answers. BUT, there is considerable evidence showing that today's housing market is nothing like it was during the last recession. So if we do go into a recession, we should not assume things will play out the way they did in 2008. I’ve summarized this in the video below.

Coldwell Banker® has withstood numerous adversities throughout our 114-year history. In fact, our company was born in crisis, having been founded following the 1906 San Francisco earthquake to bring honesty, integrity and service to those in need. Those values have been our core ever since.

If you have any questions and concerns I want you to feel free to reach out to me if I can do anything to alleviate your concerns about the housing market and the impact of this pandemic on your investment in your home. We are all in this together and I look forward to "guiding you home."

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Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400

The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY

Long Island Condo and Home Specialists

Yes Nina, consumers have concerns about the Real Estate market. As of Sunday evening, New York State will not be allowing any Open Houses nor showings. Like you...We are staying POSITIVE!

Mar 21, 2020 05:47 AM

2

Nina Hollander, Broker

Charlotte, NC
Lawrence "Larry" & She...

Plainview, NY

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila and Larry... I personally am not sure why anyone would hold an open house just now. I think it's taking unecessary risks. I am a great believer in the power of positive thinking.

Mar 21, 2020 06:26 AM

Brian England

Vacasa - Gilbert, AZ

MBA, GRI, REALTOR® Real Estate in East Valley AZ

I think that the market is going to boom after all of this virus stuff goes away, it really seems primed for that to happen.

Mar 21, 2020 07:06 AM

1

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Brian England hi Brian... I think the demand we were seeing for housing is just temporatily paused but will come back with the low interest rates... and we will still be seeing a shortage of inventory.

Mar 21, 2020 07:10 AM

1

Brian England

Gilbert, AZ

Sheri Sperry - MCNE®

Coldwell Banker Realty - Sedona, AZ

(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - This will be a very interesting year, to put it mildly. But this video is right on point. We need to have these talking points ready to go because many will not understand that there is a huge difference from 2008 to our current market conditions.

Mar 21, 2020 08:11 AM

1

Nina Hollander, Broker

Charlotte, NC

George Souto

George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT

Your Connecticut Mortgage Expert

Nina so far I still have people who are in fields of employment not impacted by the current layoffs who are still looking to purchase a home, or looking to and refinance their present home.

While we have to be realistic about the current situation, we need to remain positive that we will be out of this soon. Negativity does not accomplish anything, it only makes things worst. I choose to look towards a positive outcome, and a part of making things better.

Mar 21, 2020 10:01 AM

1

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

George Souto I'm with you on that, George...negativity doesn't accomplish a single solitary thing in moving us forward!

Mar 21, 2020 11:14 AM

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Sheri Sperry - MCNE® hi Sheri... I've already had conversations around these themes with several of my clients. We need to help them take the emotion out of the equation.

Mar 21, 2020 11:15 AM

Paul S. Henderson, REALTOR®, CRS

Fathom Realty Washington LLC - Tacoma, WA

South Puget Sound Washington Agent/Broker!

I forgot to tell you last comment how much I enjoyed this presentation and the comments others have provided have made me ponder...

Happy Saturday and be safe Nina Hollander

Mar 21, 2020 12:06 PM

1

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®, CRS oh gosh, Paul... thank you. Always so nice to know one's made some sort of impact. Happy Saturday to you, my friend.

Mar 21, 2020 12:12 PM

1

Paul S. Henderson, RE...

Tacoma, WA

Joe Pryor

The Virtual Real Estate Team - Oklahoma City, OK

REALTOR® - Oklahoma Investment Properties

I am trying to look at this realistically but when the federal goverment is talking about $2 to $3 trillion to fix the problem that is bigger than 2009.

Mar 21, 2020 03:50 PM

1

Nina Hollander, Broker

Charlotte, NC

John Pusa

Berkshire Hathaway Home Services Crest - Glendale, CA

Your All Time Realtor With Exceptional Service

Nina Hollander it could have some impact on housing market.

Happy Birthday & Many More!

Mar 21, 2020 08:13 PM

1

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Joe Pryor good morning, Joe... I think it's only natural to think that what happened last time is what will happen this time. People need to be prepared for different results.

Mar 22, 2020 05:22 AM

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

John Pusa thank you, John. No doubt the housing market will be affected... but we really don't know how and how much as yet... and we can't assume it will be like it was in 2008/2009.

Mar 22, 2020 05:23 AM

1

John Pusa

Glendale, CA

Carol Williams

Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA

Retired Agent / Broker / Property Manager

Hi Nina,
I always enjoy the short and to the point videos that you share. I was particularly struck by the average percentage of income going toward mortgage payments now. I wasn't aware it was so much less. That's a good thing for sure. Things are WAY different than they were in 2008.

Mar 23, 2020 09:01 AM

1

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Carol Williams hi Carol... nothing substitutes for looking "behind" the numbers. There's always a story one often doesn't expect.

Mar 23, 2020 09:21 AM

1

Carol Williams

Wenatchee, WA

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Nina, it will be interesting to say the least. Will some be able to buy houses, and what about those who lost jobs? What will our economy look like in two months. We shall see.

Mar 25, 2020 07:21 AM

1

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Joan Cox hi Joan... I wouldn't presume to guess what things will be like in two months. But I do know they won't be like it was 10 years ago.

Mar 25, 2020 10:50 AM

1

Joan Cox

Denver, CO

Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

The Southern California Relocation Dude

Hi Nina:

No doubt there is a great deal of concern these days about the future, for those who want to buy or sell, as well as those homeowners simply concerned about their investment. There is some very useful information here, presented in an easy to comprehend short video.

Enjoy your weekend at home!

Jeff

Mar 28, 2020 12:57 PM

1

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Jeff Dowler, CRS thanks, Jeff... I am now enjoying my second weekend at home and have at least another four to look forward to as we are on virtual lockdown in NC till end of April!

Mar 28, 2020 01:13 PM