The housing market is expected to remain volatile for the remainder of the year and into 2021, according to a report byThe report no longer sees a V-shaped recovery in the near future because due to the increase in COVID-19 cases around the country and a potential pullback of federal aid from the government.As the coronavirus pandemic rages on, the US housing market is becoming less and less likely to see a V-shaped recovery in the coming months.
For the week ending July 17, the report said, weekly new listings were down 21.9% year-over-year. Over a longer period, from March 13 to July 17, there were 1,055,597 net new listings hitting the market, a 20.3% decrease. "Given these realities, we continue to believe the chances of a V-shaped housing market recovery in 2020 are growing slimmer as the possibility of volatility lasting into 2021 could be a reality," the report reads.According to CoreLogic's Home Price Index
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