Prepared for Tom | Delivered April 24, 2020
US Housing Market Prediction
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To determine what experts predict will happen in the U.S. housing market in the next `12 to 18 moths, with special attention to decreases in home ownership and increases in rentals.
Experts predict that the US housing market may come down to a
Prospective homeowners have been
postponing their plans
to purchase a new home due to the current financial situation.
According to Capital Economics, sales of houses may fall by
, as compared to the previous year, by the end of the second quarter this year.
for the fall in the sale of houses include increase in unemployment and restrictions on people's movement.
A renowned mortgage market player, Fannie Mae, predicted that the US housing market will continue to see a price growth despite the impact of COVID-19. However, analysts believe that this prediction might not come true as housing prices have
already started to fall
amid the impact of the coronavirus crisis.
40% of sales
in the US housing market take place during the spring months, i.e. March to June. However, this may not be possible this year due to the coronavirus pandemic.
While some experts are sure that the housing market is going to see a major impact, others don't think it's going to be all doom and gloom
unless the pandemic stretches
a few months longer.
Experts also believe that the market might improve in as little as
after the economy starts to improve.