how Resilient Will the housing market in Montgomery County Remain in the Face of Pandemic and Recession?
In 2019, Montgomery County experienced the most new housing units built since 2005. Despite this surge of newly constructed units, the number of existing homes for sale was continuing its years-long decline amid historically low interest rates and growth in millennial buyers. With the current pandemic, the low inventory of homes for sale is being driven even lower by the seller’s apprehension to list and the buyer’s fear of in-person showings. In general, there have been enough buyers still looking for homes that prices have not declined. In fact, in many areas they have increased. However, given wider economic uncertainty and the fear of a deeper recession, it remains to be seen whether the housing market can remain resilient. The following resources highlight the different opinions regarding where the housing market may go in terms of supply and affordability.