The housing market has been a roller coaster ride for many in 2020. With the pandemic causing an economic downturn, many have been concerned about the future of the housing market. However, Compass CEO Robert Reffkin recently predicted that the fourth quarter of 2020 could mark the bottom of the housing market.
Reffkin believes that the housing market will continue to be strong in the fourth quarter, as many buyers are looking to take advantage of low interest rates and a large inventory of homes. He also believes that the market will remain strong into 2021, as the economy begins to recover from the pandemic.
Reffkin’s prediction is based on several factors. First, he believes that the current low interest rates will continue to attract buyers. Low interest rates make it easier for buyers to purchase homes, as they can get more home for their money. Additionally, Reffkin believes that there is a large inventory of homes available, which will help to keep prices stable.
Reffkin also believes that the market will remain strong in 2021 as the economy begins to recover from the pandemic. He believes that the market will be driven by a combination of low interest rates and an increase in consumer confidence. As people become more comfortable with the economy, they will be more likely to purchase homes.
Overall, Reffkin’s prediction is good news for those looking to purchase a home in the near future. Low interest rates and a large inventory of homes should make it easier for buyers to find a home that fits their needs and budget. Additionally, as the economy begins to recover, consumer confidence should increase, which should help to keep prices stable.
It remains to be seen if Reffkin’s prediction will come true, but it is certainly an encouraging sign for those looking to purchase a home in the near future.
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