During lockdown, many housing markets slowed considerably, with rural and suburban areas being affected most greatly. This, even though early on many long-time city dwellers chose to decamp, especially in the case of hubs for global travel, such as NYC. All of this may have surprising consequences, once everyone has received their vaccines and the pandemic is finally quelled. For instance, some economists are predicting a market boom with rental and housing prices rapidly escalating.
There are several salient reasons for this prediction, including the fact that mortgage-interest rates are relatively low, now, and many potential buyers put their relocation and buying plans on hold when the pandemic hit. This is good news for potential buyers looking to jump into the house hunt in the next few months. However, given these conditions, and the fact that there are predicted to be more buyers than homes, it's safe to say that these low interest rates are not likely to hold for long. In addition, as buyer competition increases, home prices will increase rapidly, as well.