Zillow’s Weekly Market Report has shown that newly pending sales and new listings fell last week and that this decrease can be due to the Memorial Day holiday in the States, which has a number of summer holidays that could affect future numbers in the coming weeks.
Still, new and pending sales are up compared to earlier this year from the COVID crisis. Experts told Zillow that they expect the sales lost during that period to be recouped in full over the next few years.
This is the first time in eight years where the outlook of home value growth was leaning towards the negative. Experts predict these numbers will decrease by 0.3% in 2020 when three months ago, the number was expected to grow by 3.3%.