Published On Nov 20, 2020
The real estate market has been souring in the last 6 months due to a significant decrease in supplies and an increase in buyers entering the market. This has driven home prices to increase by 15% in the last 12 months. Many are speculating that home prices are increasing too quickly and by too much and that we may be in a bubble with a housing market crash looming ahead.
One of the biggest drivers for the low inventory has been sellers being too scared to list their homes for sale. With Pfizer's recent announcement that they have a vaccine over 90% effective, sellers may start to feel more comfortable selling their homes once again. This may lead to a surge in housing inventory in the spring of 2021 which could impact home values.
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