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.