The coronavirus outbreak and the drop in oil prices continue to hurt the Houston housing market. It's forcing buyers and sellers to adapt.
Despite the economic challenges, Houston realtors say there is still a demand for housing.
“Property hits through websites like har.com and Zillow are up so I think if people are at home, they may be looking at what’s available in their neighborhood,” Nicole Lopez, founder of True Houston Real Estate, said.
Lopez says agents have been using virtual open houses, in some cases, since Harris County is not allowing in-person open houses due to the Coronavirus outbreak. Lopez says some buyers have been creative in purchasing a home amid a pandemic.
“We’ve had drive-by closings which sounds pretty funny, but it’s actually happening,” Lopez explained. “Where the consumer can drive up to the title company. The escrow official can meet the consumer at their car wearing protective equipment.”
Harris County's stay-at-home order allows real estate agents to continue working through April 3. As of this March 27th, the Houston Association of Realtors had 212,019 active listings.