C.A.R. Update on Coronavirus Market Impacts

The economy and the markets have set several records in recent weeks as the negative impacts of COVID-19 begin to accumulate. Preliminary indications suggested that the consequence of mandatory shelter-in-place orders would be severe, and recent data is now providing confirmation. On a positive note, California’s current projections show that “going hard early” has helped us to flatten the curve in projections released this week, and both listings and pending sales have found some recent stability, but declines in the housing market are expected to accelerate in the coming weeks as closed sales catch up with depressed pending numbers. Read More