Covid-19 creates unexpected fluctuations in real estate market
If single-family and multifamily housing are two cities, then to borrow from Charles Dickens, recent months are the best of times, and maybe not quite the best of times, respectively. Home sales, after a brief pause, have skyrocketed for both new and existing homes in the last seven months, since the Covid-19 pandemic upended daily life, the economy and even the world overall. Multifamily, on the other hand, saw a longer adjustment period that’s still playing out, reflected in fewer sales and more caution, though experts said those patterns are starting to abate.