This regularly-scheduled sponsored Q&A column is written Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Enjoy!
Question: What has been the impact of the Coronavirus/COVID-19 on the real estate market?
Answer: What a difference a week makes. Last Tuesday I started off semi-apologetic for writing what felt like a click-bait article at the time and this week it feels like writing about anything else would be absurd.
Last week I wrote that the impact of COVID-19 on real estate thus far was business as usual with a few big “What Ifs.” Those What Ifs came to fruition within 24-72 hours of Tuesday’s column — major changes to our daily routines (school closures, work closures) and significant changes in the global/domestic economy.
It is no longer business as usual in real estate, but the show still goes on for most buyers and some sellers… for now.
This week and in the following weeks I will do my best to communicate the impact of the Coronavirus on the local real estate market through my experiences, experiences shared my colleagues/industry partners (inspectors, lenders, etc), and market data.
What I’m Seeing/Hearing
Combining the reactions of my clients and clients of the 15-20 agents I’ve spoken with over the