2020 was a unique one for real estate. Though the pandemic slowed the majority of the economy down, the housing sector boomed.
In fact, it saw almost unprecedented success. Buyer demand soared (up 40% at one point), bidding wars were a constant presence, and mortgage rates bottomed out — hitting a new record low more than a dozen times over, according to Freddie Mac.
The market even bucked the traditional fall slowdown, with unseasonably strong demand well into the cooler months. All this, despite an ever-worsening pandemic.
But now that 2020 is (finally) at its end. Will it be the end of the current housing boom as well?
According to experts, we can expect more low rates, still-rising prices, and a continued exodus to the…