The Pent-Up Demand for Homes Should be a Market Boon

The housing market was exceptionally strong prior to the pandemic and before the massive job losses began. Then pending sales contracts and closing activity slowed dramatically.

Yet home sales nationally are forecast to be down only 11% in 2020, while prices should rise by 4%. In 2021, everything lights up as sales are expected to jump 15% while price growth stays in the 4% to 6% range. The demand will be there; the real question is whether the houses will be.

Read an analysis from NAR's Lawrence Yun here.