The housing market has been in a state of flux since the onset of the COVID-19 pandemic. Many homeowners have been struggling to make ends meet, and the market has been in a state of decline for months. However, Compass CEO Robert Reffkin has recently predicted that the fourth quarter of 2020 will mark the bottom of the housing market.
Reffkin’s prediction is based on a number of factors. First, he believes that the market will be bolstered by the recent passage of the CARES Act, which provides financial relief to homeowners. Additionally, Reffkin believes that the market will be supported by historically low interest rates, which make it easier for buyers to purchase homes. Finally, Reffkin believes that the market will be bolstered by an increase in demand from buyers who are looking to take advantage of the current market conditions.
Reffkin’s prediction is encouraging news for homeowners who have been struggling with the current market conditions. If his prediction is correct, it could mean that the housing market will begin to recover in the fourth quarter of 2020. This would be a welcome relief for many homeowners who have been struggling to stay afloat during these difficult times.
However, it is important to note that Reffkin’s prediction is not a guarantee. The housing market is still subject to a number of unpredictable factors, and it is possible that the market could continue to decline in the coming months. Therefore, it is important for homeowners to remain vigilant and prepared for any potential changes in the market.
In conclusion, Compass CEO Robert Reffkin has predicted that the fourth quarter of 2020 will mark the bottom of the housing market. While this is encouraging news for homeowners who have been struggling with the current market conditions, it is important to note that Reffkin’s prediction is not a guarantee. Therefore, homeowners should remain vigilant and prepared for any potential changes in the market.
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