-Moving companies with social distancing in place.
What is currently still not considered an essential service , is hiring a professional photographer for a listing and doing open houses.
This was excellent news for the Real Estate industry. We have clients that need to relocate for work or other critical reasons. We have sellers with empty homes they are paying mortgages on that they need to sell. And Real Estate is clearly a major part of keeping the economy going to some degree.
So this is striking a good balance in my opinion. As we will continue to work from home as Realtors and most clients will hold off on buying and selling during this period.
But in the last 2 weeks, activity has not been off that much yet. Single family home sales for the last 2 weeks in Whatcom County include 234 new listings, 134 pending sales, and 125 closings. So far closings are only down about 2% year over year. But April will be more interesting to track. We are expecting home values to remain flat in the short term, but sales to be down at least 25-50%. As so many are delaying moving plans unless it’s absolutely necessary. We are going to continue to track this day by day.