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    Impact of the Coronavirus on the U.S. Housing Market

    Impact of the Coronavirus on the U.S. Housing Market

    The Coronavirus (COVID-19) has caused massive global uncertainty, including a U.S. stock market correction no one could have seen coming. While much of the news has been about the effect on various markets, let’s also acknowledge the true impact it continues to have on lives and families around the world.

    With all this uncertainty, how do you make powerful and confident decisions in regard to your real estate plans?

    The National Association of Realtors (NAR) anticipates:

    “At the very least, the coronavirus could cause some people to put home sales on hold.”

    While this is an understandable approach, it is important to balance that with how it may end up costing you in the long run. If you’re considering buying or selling a home, it is key to educate yourself so that you can take thoughtful and intentional next steps for your future.

    For example, when there’s fear in the world, we see lower mortgage interest rates as investors flee stocks for the safety of U.S. bonds. This connection should be considered when making real estate decisions.

    According to the National Association of Home Builders (NAHB):

    “The Fed’s action was expected but perhaps not to this degree and timing. And the policy change was consistent with recent declines for interest rates in the bond market. These declines should push mortgage interest rates closer to a low 3% average for the 30-year fixed rate mortgage.”

    This is exactly what we’re experiencing right now as mortgage interest rates hover at the lowest levels in the history of the housing market.

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    John Jones

    During his 25 years in real estate, John has helped more than 5,000 families handle their real estate needs. Nobody has sold more homes in Rutherford County than John and there is not even a close second. Before opening his own brokerage he was a perennial top producer for Coldwell Banker from 1998 to 2008, consistently ranking among the top 1% of agents in the nation. In October of 2008, John realized his vision of a small boutique real estate firm that offers the best in customer service, market knowledge, wealth building opportunities, and innovative techniques that get homes sold. John also offers several revolutionary programs to his clients such as the Guaranteed Sale Program, No Show Offer, and the Fixer-Upper program.

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