House hunting in a pandemic: Virtual open houses and drive-thru closings [MSNBC.com]
Realogy Holdings Corp. (RLGY)
Last realogy holdings corp. earnings: 2/25 07:25 am
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Source: MSNBC.com
Spring is normally peak season for the housing market, but social distancing regulations and measures to classify real estate as a nonessential business have ground the industry almost to a halt.That has pushed some real estate agents to get creative, ushering in a new era of virtual home showings, live open houses and "drive-thru" closings to let house hunters buy their next homes virtually unseen.Home sales and the mortgage industry had been heading for a bumper year. New-home sales were expected to rise to 750,000, an 11 percent increase that would have put them at a 13-year high, according to the National Association of Realtors. Through the first half of 2019, house prices were at record highs in markets such as Chattanooga, Tennessee, and Atlantic City, New Jersey,as much as 20 percentFull coverage of the coronavirus outbreakMany agents' incomes depend on their sales and commission, said Steve Brown, president of residential sales for the real estate company Crye-Leike. With ho
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