The coronavirus outbreak has triggered a stock market crash, financial crisis, layoffs, and probably worsen the already serious housing shortage. Hard hit cities have implemented preventive measures like the stay at home order and social distancing. Amid the crisis, realtors are seeing a decline in the number of custom homes in the market because of the coronavirus, as per the recent National Association of Realtors.
Expert realtors revealed that if home sellers take out their homes from the market, it would continue to plague the low inventory conditions that the country is facing right now. A lot of homeowners are following the social distancing guideline and are taking the for sale signs off their front yard due to fears of an economic downturn. They are also scared of entertaining potentially infected home buyers who are interested in checking out their custom homes Myrtle Beach. However, with the country already going through insufficient inventory, this will most likely worsen the problem once the demand soars past the available supply.
About % of realtors have seen sellers take out their houses off the market because of the coronavirus pandemic compared to the 3% one week earlier, a new survey found.