Will bidding wars continue? Will home prices stay elevated? Will home buyer demand remain strong? Heading into the fall season, economists are optimistic about the market’s direction considering its unpredictability since the beginning of the pandemic.
For the most part, they agree it won’t be a return to the usual slowing pace of sales in the fall—nor will prices slide to the extent typical of the season as families settle into a new school year.
The fast-spreading delta variant of COVID-19, however, remains a wild card for the housing market.
But at the moment, “I expect an unusually busy fall season,” said George Ratiu, realtor.com®’s chief economist. “Sellers are putting homes on the market. Normally, this activity happens early in the spring.”