US property market is showing encouraging signs despite virus
The sector is holding up better than many experts predicted.
Several media outlets, such as publications Orange County Reviewer and Curbed, recently reported that demand for both housing and mortgages has grown by 9% in California over the last two weeks, despite the virus-hit economy and quarantine. Another positive sign is that more houses are also being put up for sale in the state.
While there’s still plenty of reason to be pessimistic about the real estate market, this growth is an encouraging sign for both US and international investors; it may suggest that as soon as services in the sector return to normal after quarantine is lifted, the market could recover sooner than expected.