Overall, the housing market seems to be holding up well against the coronavirus pandemic, especially in lower-end homes and markets.
Demand is high and April’s home sales were near February’s pre-pandemic numbers.
However, experts believe that we are still on the edge of a real estate crisis, especially in dense urban markets resulting from many companies shifting permanently towards some level of remote work.
Experts predict a big shift away from cities and into the suburbs over the next few years.
“While there’s a sigh of relief at better-than-expected home sales, a housing crisis is brewing. The stage has been set for a decline in high-flying, overpriced, and population-dense real estate markets.”