Happy Fall to our valued investors, what a year it has been! I think we can all agree, we have never experienced a year like 2020. We are eager to share our quarterly updates with you.

Prior to the coronavirus pandemic, the U.S. housing market was already short from the supply side. Years of slow home-building activity coupled with the ongoing uncertainty in employment and consumer optimism, point to the fact that the number of homes for sale would still fall well short of demand in the coming months. Housing market experts predict that sharp declines in the prices look improbable as the buyer demand has remained relatively strong despite the pandemic.

The latest testimony from the Federal Reserve has confirmed it will keep buying bonds to maintain low borrowing rates and support the U.S. economy during the pandemic recovery and beyond. It intends to keep the interest rates at rock bottom for even longer than previously expected after a major policy shift

With the population of millennials increasing, and record low interest rates for the foreseeable future, we believe the demand side of housing will remain stable into 2021.