Govern­ment shut­down im­pacts US hous­ing, mort­gage mar­kets

The Punch - - HOMES & PROPERTY -

SINCE the start of the United States Govern­ment shut­down on De­cem­ber 21, 2018, all as­pects of the fed­eral hous­ing, mort­gage, and pro­grams of the real es­tate in­dus­try have been im­pacted.

Ac­cord­ing to a new sur­vey by the Na­tional As­so­ci­a­tion of Real­tors of 2,211 NAR mem­bers found 75 per cent had no im­pact to their con­tract sign­ings or clos­ings. how­ever, 11 per cent did re­port an im­pact on cur­rent clients and 11 per cent on po­ten­tial clients.

The Na­tional As­so­ci­a­tion of Real­tors Chief econ­o­mist, Lawrence Yun said the hous­ing in­dus­try was al­ready fac­ing mar­ket chal­lenges be­fore any govern­ment clo­sure.

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