The ongoing pandemic has had a vast impact on nearly every industry, and the housing market is no exception. As stay-at-home orders were enacted and financial insecurity loomed large for many in early 2020, the number of both buyers and sellers dwindled. Fortunately, the market bounced back as city dwellers sought more affordable suburban properties for their new home offices, and house prices have continued to rise ever since.
Many are wondering what implications these trends have for the winter housing market. Below, 14 members of Forbes Real Estate Council offer their predictions for the season.
Northeast Residents Will Continue To Migrate To Florida
The winter weather will accelerate existing trends in the housing market. The pandemic created a massive migration from the Northeast to South Florida. Affluent buyers have been flocking to Florida for a number of reasons including the favorable climate, tax breaks and desirable lifestyle. Owners’ rep firms will play an integral role in both the residential and commercial sectors. – Adam Mopsick, Amicon
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