We’ve all heard the outrageous stories of tumbledown houses selling for record-high prices, dozens of multiple offers within hours of a new listing hitting the MLS, and bonuses and incentives to sweeten the pot from hyper-competitive buyers. Much of the demand over the past year and a half has been unexpected and attributable to a variety of factors related to the pandemic.
Now as the United States enjoys a return to something like normal in many markets, buyers who were previously disappointed by low inventory and outsized competition may be considering rebooting their home search. Unlike most years where market activity slows down after Memorial Day, pent-up demand may keep many areas more active than normal in the months ahead. If you are an interested buyer, is it finally time to go back and start looking for your next home?
According to many of the current predictions for the second half of 2021, the answer may be yes. Although there is nothing predictable about the state of the US real estate market, there are some indications that we may be going back to something that is a little more like what we are used to. Here are some of the biggest takeaways from the current expert analysis.