How Coronavirus will impact home price and rent

[May Zhang]

I am a First time investor having a house under contract. The corona virus impact on stock market is scary. Want to see if any peer investors will have any opinion about how the corona virus will impact the RE market?

[Michael Haas]

I could see buyer's temporarily being drawn to single family homes over condo complexes while the Pandemic is still top of mind. There's a lot going on in the subconscious of the average home buyer that impact their perceptions of a property, and if the news is blaring "avoid crowds, stay out of public places!" I could see them shying away from larger condo associations, whether they realize the connection or not.  

Home prices are intimately connected to employment markets though, so if the Coronavirus results in a business downturn or layoffs then 100%, that can effect the housing market. At the end of the day though its the layoffs and a economic downturn, not the virus, that would be the main cause.