In May and June, the Hobby School of Public Affairs at the University of Houston asked members of Texas REALTORS® how the COVID-19 pandemic has affected their real estate businesses. Here are selected findings from the survey results. You can find the full report at uh.edu/hobby/realtors/.
How will the 2020 home sales market compare to 2019?
18% Decline dramatically
45% Decline a little
18% Stay the same
16% Increase a little
2% Increase dramatically
Top challenges once you can conduct business normally
Lack of inventory
Buyer access to financing
Decline in buyers
Income expectations for 2020
19% No change
51% of members lost transactions due to the pandemic
Are you worried about economic recovery?
What threat does the pandemic pose to your business?
39% I’m adapting by learning new skills and strengthening client relationships
36% It’s a short-term hit; things will get back to normal
5% It’s going to put me out of business
20% Not sure
81% of members found the COVID-19 information from Texas REALTORS® helpful
Which concern is more important?
42% Risk that a loved one contracts COVID-19
58% Economic downturn
38% of members applied for a Paycheck Protection Program grant, an Economic Injury Disaster Loan, or both. Of those who applied, 63% received funds
23% of members applied for unemployment benefits and received payments
9% applied for unemployment benefits but had not received payments
1% of members contracted COVID-19
1% had a household member (other than themselves) contract COVID-19
38% know someone outside their household who contracted COVID-19
80% of property managers reported at least some tenants failing to pay timely rent in April and May
33% of members with active listings reported their clients were concerned about people entering their homes
30% of members experienced delays due to courts or government offices being closed
51% of members taken continuing education courses during the pandemic