Arizona Governor Issues Statewide Stay At Home Order

[Wes Blackwell]

https://www.azcentral.com/story/news/local/arizona-health/2020/03/30/arizona-coronavirus-stay-home-order-issued-gov-doug-ducey/5088109002/

"Gov. Doug Ducey on Monday issued a statewide "stay-at-home" order to stop the spread of new coronavirus, barring Arizonans from leaving their residences except for food, medicine and other essentials.

The order will take effect at the close of business Tuesday.

"Our goal here is to protect the lives of those we love most and to ensure the health care system has the capacity to provide them with the care and comfort they deserve," the Republican leader said at an afternoon press briefing."

Arizona follows California's footsteps in issuing a statewide stay-at-home order to help prevent the further spread of the Coronavirus.

HOW WILL THIS IMPACT THE PHOENIX HOUSING MARKET?

A couple of weeks ago when the virus was first making national headlines, it didn't seem to have much of an impact at all. I was still getting 5-6 people per day through my open houses. And besides less shaking of hands, there didn't seem to be much impact on my business. 

But now that homebuyers are being told to stay home, that may throw a wrench in the purchase and sale of housing statewide.

Luckily, Realtors have had a couple weeks to adjust while people were still out and about, and more virtual showings and meetings through Facetime were happening than ever before. 

But this stay-at-home order not only impacts how many people show up to open houses, but also affects the people being told to stay home from their jobs, and the effect that has on the economy nationwide.

MY HOPES FOR THE PHOENIX HOUSING MARKET:

My hope is that within 30-60 days the Coronavirus hysteria will be over, and things will quickly return back to normal. But we'll have to wait and see what happens and how this stay at home order affects the local economy.

The upper price-range of homes may feel the impact the hardest, as buyers and sellers of luxury homes are usually business owners with part of their portfolio tied up in other assets that are feeling a greater impact.

The housing demand for the bread-and-butter price (sub $300k) should hopefully only be stalled or delayed, and ideally we'll see some pent up demand be unleashed in the summer and fall if things get back to normal. 

But, it's still a little early to tell what is going to be the lasting impact, and this new stay at home order for Arizona is definitely more negative than I had hoped for. 

For now, keep your finger on the pulse and get info from various sources to make your predictions. No one has a crystal ball, and everyone is making their best educated guesses.

Things are changing pretty rapidly, and we'll have to wait a week or two to see the effects of this stay at home order and how it affects employees, small businesses, tenants and landlords alike. Also, how the real estate industry adapts to the potential changes in consumer demand.

If anyone has any specific predictions for the Phoenix market, I know there are many investors and real estate professionals that would love to hear your thoughts, so please share.