Here are the latest housing market predictions and forecasts for 2020 & 2021. The housing market has seen record-breaking growth since June after briefly put on hold during the outbreak of the pandemic this spring. Despite looming economic uncertainty, highly controversial elections, and the aggravated spread of the pandemic, home buyers continue to quickly snatch up the relatively few homes listed for sale.

The pandemic has really knocked down homebuilders' ability to fill the housing supply as they are running out of land. The housing market has already been running too short of previously owned homes. Both the inventory of homes and mortgage rates are now at their historic lows. The rise in remote work has also sparked a new suburban boom and the scarcity of developed land means that builders could be unable to meet the rising demand in 2021.