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The coronavirus pandemic has created confusion, delays and uncertainty in housing projects around the Bay Area, despite a crushing need for new homes from an industry deemed essential to work through the regional lock-down.

Flagstar Bancorp, one of the nation's biggest lenders to mortgage providers, has stopped funding most new home loans without government backing.

The Federal Reserve committed Monday to conducting more asset purchases of Treasury securities and mortgage-backed securities and announced $300 billion in new financing for credit facilities.

The California Association of Realtors told its members Friday to stop all face-to-face sales activities including showings, listing appointments, open houses and property inspections due to coronavirus concerns.

Accommodations for borrowers affected by the coronavirus pandemic, such as payment delays and fee waivers, are "positive and proactive actions that can manage or mitigate adverse impacts," the regulators said.

For Central Texas' long-sizzling housing market, 2020 is the year the unexpected catastrophic global event — the typical caveat in the region's otherwise ongoing rosy market forecasts — has actually come calling.

Figures released Friday show that the central Ohio housing market remained robust through February, but evidence mounted this week that the coronavirus outbreak is crushing that market along with the rest of the economy.

Consumer sentiment about home price growth during a potential recession flipped because of the coronavirus scare. Now, just one-third expect an increase in value, according to Redfin.

Sales of previously owned homes surged in February to the fastest pace in 13 years, highlighting a flurry of activity in the housing market before the economic repercussions of the coronavirus.

The fallout from the coronavirus could turn a situation in the U.S. where many homes were overvalued into a scenario where prices drop, a Fitch Ratings report said.