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The real estate market is bouncing back, following a rocky start to the second financial quarter, according to a new survey by HomeLight. As the market improved, by late June most agents reported a seller’s market with inventory at lower levels than the second quarter of 2019. Surprisingly, 59% of agents reported that the biggest challenge to the 2020 housing market would be lack of supply to meet demand, rather than coronavirus uncertainty. This may be due to the fact that home sellers are much more worried than buyers are about COVID-19-related issues, particularly with the risk of infection while showing their home. Twenty-nine percent of agents said that risk of infection was the biggest current concern for home sellers, while only 6% said it was the largest concern for home buyers. These fears are leading to fewer homes for sale and low inventory.

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It’s a seller’s market, according to HomeLight report
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