Real estate agents that still have some homes across the market left to sell comply with the effects driven by the COVID-19 Virus in various ways, from screening prospects to extending virtual tours very carefully and then reducing the family size who may choose to wander around a property on tour. Real estate agents have to contend with two major issues outside their own hands: the flow of business categorization as “important” or “non-essential” and job market uncertainty and the ebb, where customers can lose each of their careers and not be eligible for the mortgage.
Additionally, Executive Order No. 8 by Gov. John Carney (refer to PDF below) banned showings to buyers outside the state.
As a response, its short-term future appears a little dim given the downturn in showings, closings, contingent and under-contract listings, and some homes are being brought off the market since owners are waiting for the pandemic to stop.
Delaware has shown a gradual rise in the number of residences held off the market since the pandemic, having 5.19% among all its listings dropping into that category, up with 2.45% in late February. According to data provided by Maryland-based Bright MLS, a multiple listing service that has 95,000 users in six states and Washington, D.C., for which 4,200 were in Delaware. The amount of brand-new purchase agreements also fell dramatically over the past times in 2019, and regular showings of Delaware homes fell from a record of 1,324 on a Saturday early March to an average of under 300 a day during the week of April 13.
The real estate market was heavily affected. Showings are off, pending agreements are down and some listings went off the market momentarily, which means no shows until they return to service.