Ali Ata: Forecast on US Housing Market
Ali Ata believes that the housing market is one of the industry’s sectors that is significantly driving its recovery from the COVID-19 crisis. The market drastically improved in August as economic concerns continued to ease for both house sellers and buyers. But the uncertainty remains as the economy faces a long and bumpy recovery in the upcoming months. Housing prices rose during the first few months of lockdown. Ali Ata believes that it can increase even further because of the significant shortage of supply and heavy buyer competition. As rising prices made sellers rejoice and list more homes, Ali Ata believes the buyers worried as home prices increased during the quarantine. But the record-low mortgage rates and shortage of inventory kept the US housing market healthy. Buyers are moving much faster with unusually high buyer interest, which is better than this time last year. Consumers quickly take new listings out of the market because of the heavy buyer compet...