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Will Housing Prices Go Down in 2020? (The Answer Will Shock You!)
The 2019 novel COVID-19 coronavirus pandemic has resulted in many economic effects that are being felt all around the world. The impact of the virus has affected virtually every industry in every market.
Unsurprisingly, one of the markets that have been hit the worst by the pandemic has been the real estate market. Simply put, the pandemic has had an unprecedentedly massive impact on housing prices.
In this article, we'll discuss how housing prices have changed and what you can expect to see in the home buying and selling market as we move forward.
People Aren't Buying
Before analyzing how home prices have changed in recent months, let's first look at how the virus impacts buyer behavior in the market. In a nutshell, the virus has resulted in far fewer home purchases.
Why is this the case?
Think about it — the virus has resulted in a lot of folks getting laid off. As a result, job security just doesn't exist right now. No financially savvy family wants to take on the responsibility of a mortgage when they no longer know for sure that they will be receiving a steady paycheck.
However, at the opposite end of the scale, think about what those who had their houses on ... more

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