MEDFORD, Ore.– Real estate sales continue to chug along as the effects of the coronavirus pandemic become apparent across the country.
Local realtors say with interest rates still at all time lows, people are still out looking to buy homes even if they’re doing it in ways they never have before.
“It’s just a different world,” said John Zupan, owner of Windermere Van Vleet and Associates.
Realtors across the Rogue Valley are experiencing a slower pace than usual this spring but the market isn’t dead.
“Houses are still selling, the high-end houses are a little slower but people are still looking,” said Judy Methvin, broker for Windermere Van Vleet and Associates.
Following guidelines from state associations to local agencies, realtors have had to transition to new mediums such as virtual tours to showcase homes.
“People can just virtually see things online before deciding hey maybe they can rule house out by looking at things virtually instead of just going out physically,” said Kelly Brown, broker for Pulver and Leever.
People can still tour homes, realtors are just taking every precaution they can to protect both buyers and sellers.
“Gloves, masks, take wipes, wipe down the doors, keep your distance,” said Zupan. “No more than two people in the house at a time and make sure they don’t touch anything.”
Overall, local realtors say the market is maintaining. Several realtors NBC5 News spoke with said there is a growing lack of homes to sell due to the pandemic. Many buyers, however, are still out there looking.
If stay-at-home orders were to lift in the next several months many believe the economy would bounce back quickly. If not, it could be disastrous.
“If people are off work too long and don’t get jobs and business doesn’t pick up, financially they just won’t be in a position to buy houses,” said Zupan.
However, many agree either way it’s just too early to tell.