Don’t be fooled by Remarkable Real Estate Headlines!
While the year-over-year jumps will certainly be striking, consumers should take these numbers with a grain of salt. Essentially, the increases will reflect a combination of two things: sharply lower housing numbers during last year’s virus-related market collapse and the subsequent strong rebound. This will result in what will appear to be unbelievable growth.
As the graph reveals, last spring’s buying market was anything but typical. Instead of sales increasing, they fell sharply as a result of stay-at-home orders that virtually shut the real estate industry down. Spring sales are anticipated to increase.
BOTTOM LINE: The real estate market is finally back to normal
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