“Out of your vulnerabilities will come your strength.”
― Sigmund Freud, neurologist
U.S. Existing-Home Sales Jumped to 13-Year High Before Virus
Sales of previously owned U.S. homes surged in February to the fastest pace in 13 years, highlighting a flurry of activity in the housing market before the economic repercussions of the coronavirus.
https://www.bloomberg.com/news/articles/2020-03-20/u-s-previously-owned-home-sales-hit-13-year-high-before-virus
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Why the housing market might dodge the recession
Real estate couldn’t perform its traditional rescue role last time because it was on life support
https://www.housingwire.com/articles/why-the-housing-market-might-dodge-the-recession/
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How to adapt your real estate team to this new reality
Here's a peek into how Seattle-based Team Diva pivoted its practices in the midst of today's crisis — from changes to marketing, listing processes and everything in between. With this comprehensive list, you can establish new guidelines for your team, too
https://www.inman.com/2020/03/19/how-to-adapt-your-real-estate-team-to-this-new-reality/
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Open houses see changes amid concerns over coronavirus
Homebuyers and sellers have reacted to the spread of the disease by adjusting their open house policies and by capitalizing on lower interest rates.
https://www.seattletimes.com/explore/at-home/open-houses-see-changes-amid-concerns-over-coronavirus/
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Coronavirus begins to chill homebuyer interest, and Redfin pauses its instant offers
As late as last week, the mounting number of coronavirus cases in King County seemed to be having a negligible affect on the housing market. The “spring frenzy” predicted by brokers earlier this year was in full swing
https://www.seattletimes.com/business/real-estate/coronavirus-begins-to-chill-homebuyer-interest-and-redfin-pauses-its-instant-offers/
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U.S. existing-home sales climbed to 13-year high in February
February's sales were 6.5% above January's rate and 7.2% above 2019
https://www.housingwire.com/articles/u-s-existing-home-sales-climbed-to-13-year-high-in-february/
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Bank of America will let customers defer mortgage payments
Bank of America is letting customers request to defer payments on mortgages and small business and auto loans in light of the coronavirus pandemic.
https://q13fox.com/2020/03/19/bank-of-america-will-let-customers-defer-mortgage-payments/?fbclid=IwAR2eNrfz9a-vYI3KdNyKGdDscQ9pWkpNc1M68-cmQM1Urw_H_Jr13baQ2vw
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5 Simple Graphs Proving This Is NOT Like the Last Time
With all of the volatility in the stock market and uncertainty about the Coronavirus (COVID-19), some are concerned we may be headed for another housing crash like the one we experienced from 2006-2008.
https://www.keepingcurrentmatters.com/2020/03/16/5-simple-graphs-proving-this-is-not-like-the-last-time/
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Coronavirus outbreak is changing the way homes are sold
The coronavirus has many industries adapting to new ways of doing business, and the real estate industry is no exception, a D.C.-area real estate expert said.
https://wtop.com/real-estate/2020/03/the-coronavirus-is-changing-the-way-homes-are-sold/
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Is this the end for iBuying? Or is iBuying just part of a bigger endgame?
Do iBuyer critics get the long game Opendoor, Redfin and Zillow are playing?
https://www.housingwire.com/articles/is-this-the-end-for-ibuying-or-is-ibuying-just-part-of-a-bigger-endgame/
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Coronavirus Disease 2019 (COVID-19)
This interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19
https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html
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Inslee says now not the time for a coronavirus ‘shelter in place’ order in Washington
One-by-one over the past several weeks, Washington has gone through the steps at its disposal, each one more stringent and disruptive than the last, to limit the spread of the novel coronavirus.
https://www.seattletimes.com/seattle-news/inslee-says-now-not-the-time-for-a-coronavirus-shelter-in-place-order-in-washington/
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If you’re taking your temperature because of the coronavirus, 98.6 isn’t the normal body temperature anymore
Research published in January in eLife shows body temperature has not only dropped since German physician Carl Reinhold August Wunderlich’s study in 1851 established the average body temperature as 98.6 degrees, but it has also dropped since the 1970s. The findings indicate that Americans’ average, normal body temperature has dropped about 0.05 degrees Fahrenheit per decade, based on their birth year, to 97.8.
https://www.seattletimes.com/seattle-news/health/if-youre-taking-your-temperature-because-of-the-coronavirus-98-6-isnt-the-normal-body-temperature-anymore/
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Virtual Open Houses
We have created a new resource page in DeltaNet dedicated to the art of hosting a virtual open house
https://online.coldwellbankerbain.com/?body_content=resources/Control.php&lm_area=52&sub_area=5&page=000000948
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Zillow offers 50% discount to Premier Agents, estimates up to $50M impact on 2020 revenue
ZIllow did not update its Q1 or full-year financial outlook in today’s letter to shareholders. The company’s stock is down more than 50 percent in the past month amid a stock market slump.
https://www.geekwire.com/2020/zillow-offers-50-discount-premier-agents-estimates-50m-impact-2020-revenue/
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Real estate observers brace for long-term coronavirus disruptions
As coronavirus grips the region, signs of an economic slowdown are everywhere: Traffic is scant on empty streets, vacant restaurants are suspending operations, conventions and hotel bookings are being canceled
https://www.cnbc.com/2020/03/11/mortgage-refinance-applications-spike-79percent-as-interest-rates-sink.html
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Regional real estate group acts to halt open houses to fight spread of coronavirus
The stock market plunge and coronavirus pandemic have not slowed home sales activity from February’s white-hot market, brokers say, potentially posing an obstacle to officially mandated social distancing measures.
https://www.seattletimes.com/business/real-estate/regional-real-estate-group-moves-to-cancel-open-houses-to-fight-spread-of-coronavirus/
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Market Hotness Index
Metro Hotness - Zip Code and County Hotness
https://www.realtor.com/research/reports/hottest-markets/
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HOUSING STATISTICS
Housing Statistics offers 43 different sets of data, downloadable either as Excel or PDF files (updated weekly). Housing data and primary indicators of the industry are housed in one easy-to navigate location containing historical and current sets of statistics such as: Housing Starts (by Region & Structure Type), Homes Sold by Region, Producer Price Indexes (for Building Materials), Manufactured Homes, New Home Characteristics, Residential Vacancy & Absorption Rates, Units Under Construction, Value of New Construction, and many more.
http://www.nahbclassic.org/reference_list.aspx?sectionID=819&channelID=311
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Economic Indicators
U.S. Census Bureau Economic Indicators
https://www.census.gov/economic-indicators/
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CoreLogic Home Price Insights
The most geographically comprehensive and current home price index.
http://www.corelogic.com/about-us/researchtrends/corelogic-home-price-insights.aspx?WT.mc_id=crlg_151103_aHqc0&elq=d6379903117d41bcbe7b9f6a82f2189a&elqCampaignId=2692&elqaid=7659&elqat=1&elqTrackId=097f671c98fc48249757d8ddbd229326#.Vj1WlvnnuUl
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Bureau of Economic Analysis
U.S. Economy at a Glance
http://www.bea.gov/index.htm
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U.S. Housing Market Tracker
The U.S. housing market has struggled to find equilibrium after the bubble of the past decade. Here’s a look at where various gauges of supply and demand stand today.
http://graphics.wsj.com/us-housing-market/
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Mortgage Market Survey Archive
Compilation of Weekly Survey Data for 2015
http://www.freddiemac.com/pmms/archive.html
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Housing Economics
NAHB produces in-depth economic analyses of the home building industry based on private and government data. Our economics group surveys builders, home buyers, and renters to gain insight into the issues and trends driving the industry.
https://www.nahb.org/en/research/housing-economics.aspx