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How is COVID-19 affecting Central Georgia's real estate market?

Springtime is usually when business is best for The Brokery owner George Emami, but this year is different.

MACON, Ga. — The real estate market is starting to see changes, like many other industries during the coronavirus pandemic. 

The Brokery, a Central Georgia real estate company, is starting to see things slow down as they enter the month of April.

"It's at the point where some folk are saying, 'We want to see exactly how long this shut down's going to be and exactly how long, and exactly what the consequences to the local economy are going to be before we move forward with a purchase,'" says Brokery owner George Emami.

He says while home closings are still happening, the numbers are starting to drop.

From a local point of view, Emami worries the current state of the economy is part of the slow down. 

"When the economy takes a hit, people go on unemployment, and what that means is businesses are not going to get paid, and the real estate industry gets hit just like any other industries."

The Middle Georgia Multiple Listing Service says listing activity is pretty good overall, but home showings are down and contracts aren't moving as fast.

In an online survey, they found, out of nearly 90 Central Georgia realtors, roughly 60% said COVID-19 has a negative impact on their business.

Until the economy starts to pick back up, Emami worries this trend will continue.

"To me, time is of the essence right now. The longer we wait to open back up, the economy, the harder I think our industry is going to get hit," says Emami.

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