Coronavirus (COVID-19), Is it Time to Worry?

I would be remiss not to briefly address the coronavirus (COVID-19) since it has been dominating the headlines of every media outlet nationally and internationally for the last month. You almost can’t help but get wrapped up in the panic after seeing the stock market tank, listening to reports about bare store shelves and learning that there is a run on Purell and Clorox products. The recent interest rate drop was a bright spot for the real estate industry but the COVID-19 cloud still lingers.

I decided to dial back my hysteria and take a look at what is actually happening in our area, ignoring sensational journalism and varied opinions by medical experts that we’ve seen on the national broadcasts. At the posting of this article, there are no confirmed cases of COVID-19 in Palm Beach County. As a matter of fact, the scrolling cover banner of the Palm Beach County Government website is a notice about the 2020 Census, the 2020 Palm Beach County Mobility Planning Summit and a reminder about Outdoor Adventure Day going on today. The Florida Department of Health website doesn’t have any specific advisories for Palm Beach County either. Local authorities are reminding us about general preventative measures like hand washing, but not suggesting a dramatic change in our daily behaviors. 

The major problem with the news coverage is that it is heavily focused on what “could happen” or extreme scenarios abroad and fails to give a true picture of what is happening locally. Since COVID-19 is spread from person to person contact, it is only natural that anyone in the real estate industry, particularly Realtors, Sellers and Buyers would have concerns. After all, this is a people business, you may search for properties on the internet but at some point, you have to go and visit the home or condo you saw on the web and that requires some level of human interaction. “We are watching the situation closely", said Caesar Parisi Co-Founder/Broker of Champagne & Parisi Real Estate. “Our Agents have a number of open houses scheduled this weekend, none of them have been canceled. Out of 100 Agents, only two reported that their customers had concerns about the coronavirus” he continued. Claude Champagne, Co-Founder/Broker of Champagne & Parisi Real Estate said, “Right now it’s business as usual. We look forward to continued smooth and successful transactions.”

This is good news since we are in the last month of “season”, a time of year when thousands of visitors flock to our area and part-time residents return from cold climates. The local real estate market relies heavily on this timeframe since a majority of homes are either previewed, bought or sold during this period. 

If you are buying or selling a home in our area and you were worried about COVID-19…relax, keep washing your hands, but relax! Any updates in real estate market activity will always be reported here.