Is it a good time to buy a house? Poll shows shift as coronavirus hurts real estate sales

March sales data from the National Association of Realtors showed an 8.5% decline in the number of existing home sales, but home values held steady. But economists are forecasting grimmer news in coming months, with record unemployment and the likelihood that the U.S. is already in the grips of a recession. 

More Americans will be cautious about buying or selling homes, and many homeowners who lose their jobs and incomes will struggle to hold onto their homes, Gallup said.

Sales of new U.S. single-family homes dropped by the most in more than six years in March.

The Commerce Department said Thursday that new home sales fell 15.4%, the biggest percentage decline since July 2013.

Article Appeared @ https://www.usatoday.com/story/money/2020/04/25/coronavirus-housing-market-pessimism-recession-home-buyers-sellers/3026595001/

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