Victor Vickery- Real Estate Housing Predictions amidst Pandemic

1. Victor Vickery- Real Estate Housing Predictions amidst Pandemic As the lockdown designed to slow the spread of the corona virus has stalled the real estate market, housing market projections for 2020 went from bullish to negative after the COVID-19 pandemic came into being. When monitoring how real estate patterns are doing now and what to expect to move forward, this new market stall poses a unique challenge. Victor Vickery being an expert has been handling the situation with brilliance and his strategies have proved worthful in dealing with the real estate market. Here we are with predictions for the real estate industry in 2021: •Home Sales Predictions: The business predicts a whopping 50 percent-60 percent decrease from its pre-coronavirus rate in home sales. Zillow's real estate industry prediction is that domestic home prices will steadily rebound and return to their pre-coronavirus rate by the end of 2021. They also noted that, among other factors, the rate of recovery strongly depends on the size and effectiveness of social-distancing steps. •Home Price Predictions: In the next four quarters, the economic and housing research group projected that US home prices will level off or drop marginally (0.5 percent). They also predicted that during the latter part of 2021, house prices will grow again at some point. Zillow expects house prices to drop from their February values by 2% -3% by October. But like Freddie Mac, Zillow specialists also expect a gradual recovery, predicting that by late summer of 2021, home prices will return to their pre-coronavirus levels. •Supply and Demand Forecasts: In the US housing market, the effect of the COVID-19 pandemic on home prices is projected to shift the supply and demand of real estate. On the demand side, as a result of the coronavirus pandemic, the dramatic rise in unemployment and its resulting stay-at-home orders would hinder the willingness of many Americans to afford a purchase as large as a home. Meanwhile, on the supply side, as sellers are withdrawing their listings from the market, the number of homes for sale is dropping