The lack of inventory will be the biggest story in housing this year, said real estate professionals recently surveyed by HomeLight, a real estate referral company.
The U.S. may not yet have a handle on COVID-19, but the surprise element has passed. Real estate professionals are more prepared to take their businesses virtual and to still transact while socially distanced. Virtual tours, digital closing technology, and remote showings are all methods that real estate pros have increasingly turned to in the pandemic.
Compared to 2020 when buyer activity abruptly halted due to the virus and then surged once lockdowns eased up, this year is likely to be one of relative normalcy for housing trends, the report says.