During the pandemic, the housing market favored home sellers. Prices spiked as demand from buyers soared. Hopeful home shoppers faced competition, bidding wars, and the likelihood that the home they wanted would receive multiple offers and sell to a competing buyer. Last year, though, things changed. Now, many of the hottest pandemic housing markets are turning for buyers, with the number of homes available for sale growing significantly in 80 of the 100 largest markets, according to one recent analysis. With fewer home shoppers and more homes for sale, buyers will find conditions becoming more favorable in the days ahead – a trend that’s expected to continue. In fact, by the end of this year, 36 markets are forecast to be buyers’ markets, while 41 will remain sellers’ markets and 23 will be neutral. The top buyers’ markets will mostly be found in the West, where prices rose fastest during the pandemic. (source)
NMLS 2148222