Source: Forbes —
Since 2020 and the era of Covid-19, the world of real estate has seen another massive shift that has arguments going back and forth online and offline as to where the real estate market is headed. Is the real estate market headed for another crash? Will the seller’s market end soon? Nobody can predict the next move, but that doesn’t stop the speculation nor the debates from continuing to evolve as we see new changes each day. Is the new normal more unpredictable? Let’s explore why you may want to buckle up and be ready for a new shift at any time.
Real estate has had its cycles for as long as agents have been selling homes. When inventory is low and demand is high, you have what we call a seller’s market. When demand is low and inventory is high, we have a buyer’s market. These shifts between cycles have been in the range of five to seven years in most areas of the country for quite some time.