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What will happen to home prices in 2021 — how buyers and sellers can prepare

2020 pandemic Coronavirus
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Considering buying a home this year? Take a look at where home prices may drop or increase in 2021. (iStock) It’s been one year since the coronavirus pandemic disrupted the U.S.

housing market. Since then, though, residential real estate remained resilient as record-low mortgage rates drove growth in home sales.However, COVID-19 also created a seller’s market in 2020.

A seller’s market is when housing demand exceeds the supply of housing inventory while a buyer’s market is the exact opposite — the housing inventory supply is higher than the demand.

In a competitive real estate market, buyers often need to make an offer above the listing price, and bidding wars are common.

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Deaths: 237 619
Recovered: 0
Detail statistic
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