U.S. Realtors See Buyer Interest Waning

(Bloomberg) -- Almost half of National Association of Realtors members say that home-buyer interest has declined during the global pandemic, despite low borrowing costs.

Among all residential members, 48% of members said there was a decrease in buyers, according to the March 16-17 survey. The majority of members reported no change in the number of homes on the market due to the coronavirus, NAR said.

“The decline in confidence related to the direction of the economy coupled with the unprecedented measures taken to combat the spread of Covid-19, including major social distancing efforts nationwide, are naturally bringing an abundance of caution among buyers and sellers,” NAR Chief Economist Lawrence Yun said in a statement Thursday.

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