Real estate is still a hot market with some buyers & sellers merely shifting their timing down the line. Here are the updated 2020 housing market predictions. It has become difficult to come up with a solid housing market forecast for 2021 as things are changing with each passing month. Even though the housing market is showing signs of rebounding from economic shutdowns but no one knows how persistent the coronavirus pandemic will be or how long the economy will remain locked down. The good thing, at least for buyers and investors alike, is that house prices have nearly flattened and are poised to remain stable in the latter half of this year.
Before the coronavirus pandemic began, the U.S. housing market was already short from the supply side. Years of slow home-building activity coupled with the ongoing financial crisis point to the fact that the number of homes for sale would still fall well short of demand in the coming months. Housing market experts predict that sharp declines in the prices look improbable as the buyer demand has remained relatively strong despite the pandemic. A lot of new buyers want to purchase a house and while investors have taken a pause.