Coronavirus and The Real Estate Market

“The World Health Organization on Wednesday declared coronavirus a pandemic, reflecting concern from WHO that countries aren’t working quickly and aggressively enough to contain the virus,” the Washington Post reported on March 11.

This is a very serious situation that needs to be dealt with, and its long-term effects to overall human health are unknown.

At this point, how the coronavirus is affecting the economy is also unknown.

As of this moment—again, this is a very fluid situation—it does not seem to have had an effect on the Orange County housing market.

“Despite all the news swirling about the Coronavirus, the Orange County real estate market is still rocketing forward with an Expected Market Time of 48 days,” wrote Steven Thomas, author of the bi-monthly Orange County Housing Report on March 9. “At first, news of the Coronavirus seemed like a distant crisis on the other side of the world. Then, at the end of January, the first case on U.S. soil was announced. It was not until the end of February when top federal health officials warned that the virus would spread in the United States.”

Again, the coronavirus is a fluid situation.

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