Today’s News Synopsis:
How will Coronavirus affect commercial real estate values? Following a month that saw the steepest drop, building confidence posted strong gains, having increased 7 points to 37 in May. Realtor.com gives an update on whether we are in a recession or depression and how each would affect the housing market.
In The News:
“Zillow Group, Inc. (NASDAQ:Z) (NASDAQ:ZG), which is transforming the way people buy, sell and finance homes, has resumed home buying in four Zillow Offers markets, with a renewed commitment to safety. The company is launching a health safety initiative — Move Forward. Stay Safe. — to help protect customers, employees and partners.”
NAHB – “Builder Confidence Posts Solid Gain Following Last Month’s Historic Drop” (5-18-2020)
“In a signal that the housing market is showing signs of stabilizing and gradually moving forward in the wake of the COVID-19 pandemic, builder confidence in the market for newly-built single-family homes increased seven points to 37 in May, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.”
Forbes – “How Might Buyer And Seller Priorities Change In The Post-COVID Housing Market?” (5-18-2020)
“How might buyer and seller priorities change post-COVID? It’s an interesting question with potentially widespread implications for the housing market as many homeowners and prospective buyers start to revaluate both what they want, and what they need, from their living arrangements.”
Realtor.com – “Are We in a Recession—or a Depression? How Each Would Affect Housing” (5-18-2020)
“The past two coronavirus-ravaged months have left many folks wondering if the nation is in the throes of another deep recession—or maybe even a repeat of the Great Depression of the 1930s.”
OC Register – “How will coronavirus affect commercial real estate values?” (5-18-2020)
“As California’s stay-at-home order is slowly lifted, our economic activity – placed into a self-induced coma – is also emerging from the ether. The most common question we hear these days is ‘what is my building worth?'”
Forbes – “How To Invest In Real Estate During The Pandemic” (5-18-2020)
“There has been a surge of renter households in the US. As a result, the economic shock waves set off by the coronavirus pandemic will reverberate not only for tenants but the owners of those properties as well.”
Fannie Mae – “Here to Help” (5-18-2020)
“COVID-19 has upended everyday life for almost everyone in America. Many people are wondering if they’ll be able to make their mortgage next month. Amid the uncertainty, you can continue to turn to Fannie Mae as a home for help and a source of reliable information about all your options for relief.”
Redfin – “Home Office Ideas: 6 Unique Spaces You Can Transform into a Home Office” (5-18-2020)
“Working from home has become the new norm, and will likely become more commonplace in the near future. This has made having a home office more necessary and desired than ever before.”
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
Bruce and Aaron Norris will be presenting Keep-Sell-Create in Sacramento on Saturday, June 20.
The Norris Group presents its award-winning black-tie event I Survived Real Estate 2020 on Friday, September 18.
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