Are you wondering how the Coronavirus will impact the real estate market in the Lehigh Valley? We have some predictions for how this virus will impact our local real estate enviornment here throughout the Lehigh Valley, PA. With social distancing becoming the norm, and quarantine a possibility, the changes that are happening will most certainly impact how people sell their houses, how many houses are for sale, and how appraisers, and inspectors do their jobs.

 

#1. Less Open Houses

With the United States currently under a national emergency as of today (3/13/2020), and people in a panic looking for food, and water to prepare for a possible quarantine or lockdown over the next few weeks, there will certainly be less homeowners willing to have strangers walking through their home on Sunday afternoon.

 

#2. Less Homes For Sale

There have already been reports of declining interest in homeowners listing their home for sale. We are seeing cancelled, or postponed listings, and sellers opting to "wait it out" for things to get better before listing. There are concerns about residences with elderly, or immune compromised occupants expressing worry over the possibility of strangers bringing the virus into their homes during showings.

 

#3 Appraisers Not Entering Homes

We have spoken with local appraisers in the Lehigh Valley, PA that are now informing real estate agents that they will be conducting appraisals by doing drive-by appraisals vs. going into homes for the time being. Appraisers are concerned about their health, and well being entering homes right now, as well as inadvertently bringing the virus in themselves.

 

This Will Not Be A Normal Spring Market

Until the coronavirus (covid-19) has been controlled, and we see a drop in the number of cases, or hopefully elimination of the virus in the United States, the real estate market in the Lehigh Valley, PA will certainly not be like a normal spring market here in the area.

Things Will Eventually Get Back To Normal

In the mean time, while you are waiting for things get back to normal, get a current estimate of your homes value here: Get Your Lehigh Valley Home Value, and when you are ready to start your Lehigh Valley real estate search again, as always we will be bringing you the latest listings as they hit the market here on the home page of LehighValleyListed.com : Newest Lehigh Valley, PA Homes For Sale. Interest rates are expected to remain low, and home buyer interest is expected to heat up again as soon as we get through this current outbreak.

Stay safe out there, and if you have any questions regarding buying or selling in the Lehigh Valley, PA, reach out to Lynne Kounoupis with Remax Unlimited at 610-704-8826 or use the contact form here on LehighValleyListed.com