How is the coronavirus outbreak affecting the housing market?

ATTLEBORO — The start of spring usually means a hot housing market, but, as the coronavirus outbreak closes businesses and has many fearing a recession, the future of the market is uncertain.

The National Association of Realtors reports a decline in listings across the country, and a survey released Thursday finds nearly half of realtors report decreased interest from home buyers.

But broker Sheryle DeGirolamo tells Boston 25 News her team of realtors at Kensington Real Estate Brokerage, based out of Attleboro, is seeing a large number of new listings, sales and interest.

With mortgage rates at a historic low, DeGirolamo insists it’s a good time to buy.

“I saw a big surge in new activity. In the towns we serve, about 360 activities listed,” DeGirolamo said in a FaceTime interview Thursday. “It seems as though there are people that are still doing business, and I think as each day moves forward, we’re learning how to do it a little bit safer. So that’s, I think, building confidence in the consumer’s mind.”

Some of those safer practices include holding open houses differently, being mindful of Mass. Gov. Charlie Baker’s limit of 25 people at a public gathering.

"At first, we were saying absolutely no to open houses, because we cannot control a 25-head count into a property,” said DeGirolamo, who has since started implementing new practices to keep open houses on schedule. “The suggestions we’re getting is let them come in with gloves, or provide the gloves, provide booties, provide hand sanitizer; have sellers turn on all light switches in the house, so we don’t have to touch those, and open all closets.”

But for those sellers who decide not to open their homes to visitors, their listings will have to be temporarily withdrawn until the threat is over and they feel more comfortable.

The processes of closing a sale and recording the deed have become more difficult as many offices are closed and employees are not working or they are working remotely.

One local broker DeGirolamo recently met with said he was forced to cancel seven closings because the local fire department is not currently conducting inspections for smoke and carbon monoxide detectors.

Several other fire departments in the state have halted such inspections. But DeGirolamo said, if a closing is held up for that reason, the buyer and seller could agree to bypass the inspection in order to move forward with the closing, as long as the lender is on board.

Alternatively, both parties could also agree to close, contingent upon an inspection 60 days after the closing date.

With so many offices shuttered, some documents needed for closings are being submitted online, including Title V certificates from local town halls for septic inspections. Registries are also recording deeds electronically.

It’s a new way of working for DeGirolamo and her peers, but they are adapting.

“It’s definitely the time to buy,” DeGirolamo said. “We’re just trying to do business as normal as best we can.”

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