Housing Market Soars Amid Coronavirus Pandemic

Rent prices have dropped considerably in places such as New York City due to the coronavirus pandemic. The same, however, cannot be said for homes across the country. The National Association of Realtors reporting Thursday that the median price for existing homes in each of the 181 metro areas tracked by the association was higher in the third quarter this year compared to a year earlier. M. Ryan Gorman, President and CEO of Coldwell Banker, explains why conditions brought on by the coronavirus pandemic more favorable to the housing market than during the Great Recession over a decade ago.
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