COVID-19 impacts Richmond housing market

Posted at 8:13 AM, Apr 20, 2020

RICHMOND, Va. -- While industry observers maintain the Richmond home market remains strong, signs that COVID-19 is having an effect on listings are beginning to emerge.

Data released last week by the Central Virginia Regional Multiple Listing Service shows that while the number of new home listings rose across the region from February to March, there was also a steep number of homes that were taken off the market as the pandemic’s effects began to be felt.

In March, 174 listings were taken off-market – nearly three times the 61 homes that were temporarily withdrawn in February, said Laura Lafayette, CEO of CVRMLS and the Richmond Association of Realtors. The data reflects residential real estate activity in the city of Richmond and in Chesterfield, Hanover and Henrico counties. Click here to keep reading on Richmond BizSense.

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COVID-19 Precautions

Most patients with COVID-19 have mild to moderate symptoms. However, in a small proportion of patients, COVID-19 can lead to more severe illness, including death, particularly among those who are older or those who have chronic medical conditions.

COVID-19 spreads primarily through respiratory droplets produced when an infected person coughs or sneezes.

Symptoms include fever, cough, and difficulty breathing. Symptoms appear within 14 days of being exposed to an infectious person.

Virginia health officials urged the following precautions:

  • Wash your hands often with soap and water for at least 20 seconds.
  • Use an alcohol-based hand sanitizer only if soap and water are not available.
  • Avoid touching your eyes, nose, and mouth.Cover your mouth and nose with a tissue or your sleeve (not your hands) when coughing or sneezing.
  • Clean and disinfect frequently touched objects and surfaces.Stay home when you are sick.
  • Avoid contact with sick people.Avoid non-essential travel.