Quotes from the news wire:
Halfway through October, the number of homes for sale has improved compared to the overheated first half of this year, leading to slower price growth, it seems that buyers and sellers are finally taking a step back from the pandemic-induced stampede of the past year to regain their footing and reassess their next steps.
Rising prices during summer months reflected a combination of peak demand and larger homes for sale, as families with school-age children competed to secure a place for the new school year, in a noticeable shift, July saw real estate markets welcome a larger influx of new listings, as homeowners across the country decided to move on with pandemic-delayed plans to sell.
On one hand, buyers are clearly returning to the market, eager to take advantage of low interest rates while moving toward a new normal, on the other hand, the strong resurgence in Covid cases, especially in Sun Belt states, along with broader economic uncertainty during the current recession, is holding many sellers back from entering the market.
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