Real Estate Market: Rent or Buy a House During Covid? Home Hunters Explain Moves

Maybe it’s too many months living and working in the same cramped quarters. Or the ultra-low mortgage rates. For some, spending less during the pandemic means they finally have enough saved for a down payment.

All that is prompting people to ask themselves whether now is the time to buy a home — even as the long-term outlook for the real-estate market remains uncertain.

There’s been a burst of home buying across the U.S., especially in suburbs outside cities where people were cooped up during the spring Covid-19 lockdown. In August, contracts to buy single-family houses in Greenwich, Connecticut, nearly tripled from a year earlier. Contracts were up 57% in nearby Westchester County.

Homes Get Scarce

The supply of single-family homes in the U.S. is getting tight

Capital Economics Ltd., U.S. Census, National Association of Realtors

The U.S. market is so hot that the supply of homes for sale is

Read More