The COVID-19 pandemic has left an indelible mark on various sectors of the economy, and the housing market is no exception. As we navigate our way out of the pandemic, many are left scratching their heads, wondering when the seemingly inflated home prices will return to pre-pandemic levels. However, a closer look at the supply and demand dynamics that drive home prices suggests that these high prices may be the new normal.
Deciphering demand in the housing market
The first factor to consider is demand. The average American typically purchases their first home at the age of 35. Interestingly enough, the largest demographic concentration in the United States is currently approaching
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