Purchase

High demand and low interest rates continued to drive strong sales of existing single-family homes in Maine in February, according to Maine Listings.

There was a nearly 30% week-to-week decline in loan applications as Americans reacted to the uncertainty, both economic and medical, from the spread of COVID-19, according to the Mortgage Bankers Association.

Purchases of new homes in February held close to an almost 13-year high, showing momentum in the residential real estate market before economic activity fell victim to the coronavirus.

The real estate market, particularly in the so-called luxury tier, has been struggling for years.

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.

It has all the trappings of a routine mortgage refinance closing. The mortgage broker, the lawyer and the homeowner, all signing off on the paperwork that will cut the interest rate on a home.