Why Aren’t Home Prices Crashing?

There are several reasons why home prices may not be crashing despite the ongoing pandemic and economic uncertainty. One of the main reasons is the limited inventory of available homes for sale. The demand for homes has remained strong, fueled by low mortgage rates and changing lifestyle needs, such as remote work and the desire for more space. However, the supply of homes has not kept up with this demand, which has created a seller's market, where buyers are competing for limited inventory, driving up prices.