Buying | Quad Cities Real Estate Blog
When the year began, the forecasts for the real estate market were not surprising. As the economy continued to do well in many sectors, experts from various organizations agreed that it seemed as though the housing market would continue to be a competitive place where many people were vying for each home that went on the market. The more people looking to purchase a home, the more expensive homes become, and therefore the forecasters predicted another booming spring for those on the selling end of things.
There are few things more important these days than staying safe and healthy. For most of us, the possibility of becoming infected with COVID-19, bringing it home to our families, potentially aiding in the spread of this malignant disease throughout the community means that we are doing a whole lot less out of the house and in public. Even as restrictions across the nation begin to lift, we know from medical data and the words from the scientific and public health community that this is far from over. Indeed, in many communities the infection rate is beginning to climb more and more steeply.
With the COVID-19 pandemic raising numerous fears of a recession far larger than the one that took place in 2008, many individuals without as much available cash were hoping that the real estate market would shift dramatically and bring house prices crashing down. Certainly, the market was rocked by the pandemic, however not exactly in the ways that many had anticipated.