Which housing markets are most vulnerable to the ongoing COVID-19 pandemic? Clare Trapasso of Realtor.com reports that any second-home destinations, retiree communities, gambling meccas, and luxury markets will be the hardest hit.
Jeff Andrews of Curbed wrote an excellent and robust analysis of the impact of pandemics on the housing market. Although COVID-19 is certainly unique, during previous pandemics “while home sales dropped dramatically…home prices stayed about the same or suffered a slight decrease.”
Source: ARL Now
CoreLogic also conducted a comparative analysis of current purchase applications compared to 2018 and 2019. Despite lower rates, we are seeing an understandable decrease: