A recent Zillow survey showed that 75% of recent housing market buyers regretted their decision to purchase a property during the pandemic. Why? The top reasons were buyers felt they didn’t have enough time to weigh up their priorities and options.
Realizing they chose the wrong location or ended up with too long a commute, or finding they didn’t take enough time to go with the right agent or carry out a home inspection.
Let’s start with perhaps the most obvious reason for a link between the house-buying frenzy and falling prices. Many people chose to buy houses during the pandemic means these people are no longer searching for properties.
As a result, surely there will be a lower number of people searching for homes, meaning demand will return to a typical point, and prices will either stabilize or drop?