The Real Estate market has been on a large Boom since the pandemic with the market in some cases up 25% from the year before in terms of pricing, lower real estate availability, and multiple offers on real estate properties.
The big question was could it be sustained? Can we have such a boom during one of the largest unemployment periods in our history? The real estate crash was always discussed by many analysts, but the real estate market kept beating the odds and continued climbing to new highs. Real Estate has been a frenzy until recently where the market has turned from top to bottom. The housing prices have dropped although slightly, the demand seemed to go down a bit, and the availability of homes on the market have increased. Add the fact that the real estate foreclosures are possibly going to rise increasing the real estate market supply, we may see prices drop even further with availability increasing.
Comment below on the real estate market. What are your thoughts?
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