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