Plunging shares and coronavirus fears are beginning to hit the New York Metropolis actual property market.

Forty-four open homes had zero site visitors final weekend, based on Fritz Frigan, govt director of gross sales and leasing on the New York residential actual property brokerage Halstead. These 44 empty open homes represented 13% of all open homes, up from 9% two weeks earlier.

The common attendance at open homes in New York fell 27% to a median of 4.1 individuals per occasion from a median of 5.6 on Feb. 23, earlier than the virus was reported in New York.

"With nervousness about their decimated inventory portfolios comes insecurity about actual property valuations," Frigan stated. "If consumers really feel that values of actual property will additional depreciate due to the virus and monetary instability, they may postpone their choices to...