Here are the latest housing market predictions for 2021 & 2022. It has been roughly one year when the pandemic put the housing market on hold for several months last spring. But the real estate market bounced back rather quickly. For nearly a year now, low mortgage rates and increase in working from home ignited by the pandemic have fueled a rapid increase in housing demand — espicially in lower-density suburbs. Despite uncertain economic times, there has been a booming residential housing market.

More existing homes were sold in 2020 than in any year since 2006. Many market watchers are curious to know how long will this housing boom last or will the market eventually crash? Well, so far, the housing market continues to be sizzling hot resulting in higher home prices and quick-selling homes. The Federal Reserve is playing a key role to support the economy and housing market by keeping borrowing costs low for shorter-term loans.