NAR’s Weekly Update-April 13-17, 2020

Each week the National Association of Realtors publishes highlights from the market and the industry.

Here are my takeaways:

  • The real estate industry is adjusting to the COVID-19 pandemic. Over half of the buyers and sellers are slowing down their activity, but there is still business occuring. Real estate activity will not stop.
  • 25% of buyers’ agents who had clients submit offers this past week, did so without physically seeing home. I expect that number to increase.
  • Transactions are occurring with limited or not delays. Title agencies and attorneys, just like everyone else are adjusting the way they do business. Drive-by closings are the new way to do finalize a transaction.

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