Coronavirus impact on Houston’s housing market

Impact on Houston's housing market
Impact on Houston's housing market

HOUSTON – For many, the purchase of a home is one of life’s biggest financial investments.

There is no question that coronavirus has crippled the economic landscape with vast uncertainty, but one thing is for certain real estate is not going anywhere.

“There are still people that still need to buy a house, and there are people that need to sell their home,” said Chaille Ralph, vice chair of HAR’s MLS multiple listings board.

Currently, the Houston Association of Realtors, better known as HAR, has 25,420 active homes, with another 11,721 under contract, according to real estate team Channel 2 Investigates spoke with on Monday.

One of those selling is Scott Miller, who said, “Everyday that goes by, the more dust it collects.”

Miller told Channel 2 Investigates he recently put his investment property on the market. However, the coronavirus is already having an impact.

“It’s been a little slow getting buyers out to walk the house and see if they’re interested in it," Miller said.

Realtor Kristin Logan said that, up until the early part of last week, real estate numbers were on par with prior years, but then she detected a downshift.

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