Covid screws up everything. We won’t know what a normal real estate market looks like again until we are back to whatever new normal we end up with post-shut downs. Only then will economic activity get back to some semblance of normalcy along with mobility trends. People are really hunkered down right now, except those fleeing Covid and paying anything to get a house where they think they are safe and away from the disease and away from rioting.
It is anything but normal right now.
Interest rates will be low from now until kingdom come, or until the impending financial collapse/hyperinflation. Whichever.
Nobody knows what normal looks like right now.
The sun rose in the east today. The geese are headed south. My flowers are looking sickly. The mornings are very chilly.
Seems normal to me.