When concerns about Covid-19 first overtook our world in early spring, many people feared the housing market would be yet another casualty of the virus. While the market did initially see a downturn, that dip was very short-term, and housing sales have skyrocketed in the other direction. What explains the change? How has the housing market remained so strong while other segments of the economy are suffering?
There are actually several factors at play that have led to the current conditions in the housing sector. This Builder Online article explains the forces behind our current bullish seller’s market.