fbpx

Should I Buy a Home During the Coronavirus?

Should I Buy a Home During the Coronavirus?

Spring is upon us, which typically involves a big peak of home buyers checking out properties, negotiating, and closing on new places. But the coronavirus outbreak—with its quarantine measures and economic uncertainties—has many a real estate shopper wondering: Should I buy a home now, or wait?

The National Association of Realtors® offers a fantastic, detailed discussion on this subject in the fascinating podcast and article series, Home Buying in the Age of Coronavirus.

The impact of the coronavirus on the housing market

should i buy a house during the coronavirusSo what state is the housing market in right now, anyway? While that depends on how bad an outbreak an area is suffering, most markets are feeling some sort of hit. The latest NAR Flash Survey: Economic Pulse, conducted on March 16 and 17, found that 48% of real estate agents have noticed a decrease in buyer interest attributable to the coronavirus outbreak.

However, nearly an equal number of members (45%) said that they believe lower-than-average mortgage rates are tempting buyers to shop around anyway, without any significant overall change in buyer behavior.

For those who are determined to buy a home, there is opportunity out there. In hot markets like Nashville and Brentwood, the changing landscape of buying and selling has enabled many buyers to snatch deals from those desperate to sell and uncertain about when the crisis will be over. And with fewer buyers out there looking, you may have less competition in your house hunt.

How the real estate industry has adapted to keep buyers safe

Although it’s a scary time to be out and about checking out real estate, it is still possible to do so and stay relatively safe. The industry has rapidly adapted, introducing approaches that minimize exposure to the virus.

For instance, many agents are now working remotely and conducting most of their business virtually. You can do almost every step of the buying and selling entirely online and virtually, from house hunting and going on fully digitized home tours, to closing and signing important documents.

View Hot Homes for Sale Under $250,000

New Listing - 15 hours online
$240,000
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
1,800
SQFT
105 Bess Court
Antioch, TN 37013
Bess Estates Subdivision
New Listing - yesterday
$230,000
Single Family Home For Sale
Active
2
BED
2
TOTAL BATHS
1,116
SQFT
5836 Brentwood Trace
Brentwood, TN 37027
Brentwood Trace Subdivision
New Listing - 2 days online
$224,990
Land For Sale
Active
3
BED
3
TOTAL BATHS
1,581
SQFT
173 Ramsden Ave
La Vergne, TN 37086
Greenway Trail Cottages Subdivision
Open House 08/16 at 2PM
Please verify times due to COVID-19
$225,000
Single Family Home For Sale
Active
3
BED
2
TOTAL BATHS
1,125
SQFT
102 Wortham Ct
La Vergne, TN 37086
Greenwood Sec 2 Subdivision
New Listing - 2 days online
$179,900
Townhouse For Sale
Active
2
BED
3
TOTAL BATHS
1,136
SQFT
1506 Sprucedale Dr
Antioch, TN 37013
Old Hickory Commons Subdivision
New Listing - 3 days online
$
Single Family Home For Sale
Active
3
BED
2
TOTAL BATHS
1,953
SQFT
3217 Madison Ave
Murfreesboro, TN 37130
Northmark Subdivision
Open House 08/16 at 2PM
Please verify times due to COVID-19
$189,900
Single Family Home For Sale
Active
4
BED
2
TOTAL BATHS
1,742
SQFT
216 Mill Ln
Smyrna, TN 37167
Alberta Hicks Subdivision
New Listing - 3 days online
$244,900
Single Family Home For Sale
Active
2
BED
2
TOTAL BATHS
1,512
SQFT
800 E Bell St
Murfreesboro, TN 37130
University Hts Subdivision
New Listing - 4 days online
$224,900
Single Family Home For Sale
Active
4
BED
2
TOTAL BATHS
1,468
SQFT
820 Lee St
Murfreesboro, TN 37130
Downtown Subdivision
New Listing - 5 days online
$219,990
Land For Sale
Active
2
BED
3
TOTAL BATHS
1,530
SQFT
172 Ramsden Ave
La Vergne, TN 37086
Greenway Trail Cottages Subdivision
Open House 08/15 at 1PM
Please verify times due to COVID-19
$224,990
Land For Sale
Active
3
BED
3
TOTAL BATHS
1,581
SQFT
170 Ramsden Ave
La Vergne, TN 37086
Greenway Trail Cottages Subdivision
New Listing - 5 days online
$194,900
Single Family Home For Sale
Active
2
BED
1
TOTAL BATHS
672
SQFT
3300 Saindon St
Nashville, TN 37211
Sunrise Heights Subdivision
New Listing - 5 days online
$199,900
Single Family Home For Sale
Active
2
BED
2
TOTAL BATHS
1,441
SQFT
326 Ash Forge Dr
Antioch, TN 37013
Bell Forge Village Subdivision
New Listing - 5 days online
$224,900
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
1,973
SQFT
4815 Laura Jeanne Blvd
Murfreesboro, TN 37129
Florence Village Subdivision
New Listing - 5 days online
$249,900
Single Family Home For Sale
Active
3
BED
1
TOTAL BATHS
1,300
SQFT
295 Tampa Dr
Nashville, TN 37211
Kenilworth Estates Subdivision
New Listing - 5 days online
$99,900
Single Family Home For Sale
Active
3
BED
1
TOTAL BATHS
1,416
SQFT
200 Hazelwood Dr
Smyrna, TN 37167
 
New Listing - 5 days online
$
Single Family Home For Sale
Active
3
BED
2
TOTAL BATHS
1,092
SQFT
7004 Westfork Dr
Smyrna, TN 37167
Westfork Ph 1 Sec 3 Subdivision
New Listing - 6 days online
$241,144
Townhouse For Sale
Active
2
BED
3
TOTAL BATHS
1,487
SQFT
1604 Calypso Drive Lot 110 #110
Murfreesboro, TN 37128
Wilkerson Downs Subdivision
New Listing - 6 days online
$241,144
Townhouse For Sale
Active
2
BED
3
TOTAL BATHS
1,487
SQFT
1610 Calypso Drive Lot 107 #107
Murfreesboro, TN 37128
Wilkerson Downs Subdivision
New Listing - a week online
$230,000
Single Family Home For Sale
Active
3
BED
1
TOTAL BATHS
1,064
SQFT
2407 Eden St
Nashville, TN 37208
Hefferman Subdivision