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What does the coronavirus have to do with home prices? Find out here.
The coronavirus has spread to all corners of the news and the internet lately. But what does this illness have to do with real estate?
We’re starting to see a decrease in Chinese investment here in the United States. In 2018, total Chinese investments in the U.S. equaled around $30.4 billion compared to $13.4 billion in 2019.We first encountered the coronavirus at the end of 2019, but part of that decrease also probably stems from the trade war with China that lowered the value of the Chinese yuan, which ultimately made U.S. real estate more expensive (especially on the coasts).
Ultimately, it doesn’t impact Arizona much, but there are certain parts of the country where Chinese investment has slowed. That said, the Chinese as a whole do see America as a safe-haven investment, so money is still pouring into our country for real estate—just not at the same rate as in 2018.
If you have any questions about what factors in your area could be affecting your home price, feel free to reach out to me. Remember: Real estate is local. Call me on my cell 602-738-9943.
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