Sellers are Avoiding Panic Selling During Pandemic

According to a new survey conducted April 19-20 by the National Association of REALTORS®, Nearly 75% of REALTORS® report that their sellers have not lowered listing prices to attract buyers during this time. This suggests home sellers are avoiding “panic selling” during the COVID-19 pandemic, the survey notes.

Sales are still happening. A survey released last week from NAR showed a quarter of REALTORS® reporting that their clients had put contracts on homes without physically seeing the property.

More than a quarter of REALTORS®—or 27%—report that they are able to complete nearly all aspects of transactions while respecting social distancing. The most common technology tools that REALTORS® report using to connect with clients during this time are e-signatures, social media, messaging apps, and virtual tours.