Real Estate and the Coronavirus

The coronavirus has been a news topic in the United States for a few months now.  This recent coronavirus is a new type compared to the virus from the 1960s.  This new strand of the coronavirus was first noted in China in December 2019.

Lately, the news has been reporting that the coronavirus is disrupting different industries around the United States, not just businesses in China.  The Fox Business website published an article reporting how the coronavirus is affecting luxury real estate markets in New York and California, as China has been an important source for the luxury real estate market.  The continuation of this virus could mean a bigger decline in sales. The current ban on any foreign nationals who visited China in the past two weeks in addition to canceled flights to the United States from China will keep impacting the real estate market.

Read the article here: https://www.foxbusiness.com/real-estate/coronavirus-new-york-california-luxury-real-estate

Realtor.com reported that mortgage interest rates have dropped due to the coronavirus.  With this drop, many are refinancing their mortgage loans causing applications to be the highest in seven years.

Will the coronavirus affect your real estate investments?