It’s likely that properties in many areas of the country are going to decline in price due to the uncertainty and unemployment that will result from the pandemic. If you are selling a home and buying another this could be a HUGE opportunity for you.
For example, if you are selling a house that was worth $200,000 before the coronavirus hit and it drops 10% you “lose” $20,000. However, if you’re buying a larger home that cost $350,000 before the coronavirus hit and it drops 10% you “gain” $35,000 or have a net gain of $15,000 on the whole transaction.
Obviously, the best time to do this is when homes in the more expensive area bottoms out. Work with a local real estate expert who can tell you when this happens.