These markets could see the sharpest drop in home prices during coronavirus pandemic
Richard Connelly, of First International Hamptons Realty, waits for clients at an open house for a nearly-completed home on A.J. Court in Riverhead, New York on March 14, 2020.
John Paraskevas | Newsday LLC | Getty Images
Both homebuyer and seller demand have weakened dramatically in the last month, as Americans hunker down to help stop the spread of the coronavirus.
While some are still shopping online, doing virtual tours, the spring season was essentially over before it started. Although sales are way down, home values may not suffer as much, except in certain markets.
Home prices were very hot at the beginning of this year and heading into the crisis, and the expectation is that while the gains in values will likely slow, prices will not fall nationally. That is because unlike during the subprime mortgage crisis, when there was a …continued .
[Source: CNBC News]