2020 was a year that included a pandemic, shelter in place, unemployment, terrible financial hardships for many households and small businesses, new ways of working, office buildings empty, people move to less densely populated areas, dreadful fires, an anxious presidential election, interest rates to historic lows, stock markets to new highs, IPO mania breaks out again, vaccines begin to arrive – and, after an initial pandemic-drop in activity, the real estate market went into hyper-drive, with median home sales prices hitting dramatic new peaks. The luxury home market, in particular, was extremely strong.
2020 will be go down as a year of social, political, economic and environmental extremes. Let us give thanks to those who worked so hard and sometimes risked their lives to help others.
The analyses in this review were designed to be self-explanatory, but please don't hesitate to contact us with any questions.
Thank you to our @compass data team and Patrick Carlisle, Chief Market Analyst for this insightful and powerful recap.