Another wave of the COVID-19 pandemic is going to have a huge impact on the real estate market. In the short term, it will be a boon for home sellers. The population is dropping and people who are not able to travel are going to be staying put. This means that they'll need places to live—and if they're not able to sell their homes, then they'll need somewhere else to go.
In the long term, though, this trend could be problematic for home buyers. If people can't get out of their houses because of the pandemic, then how are they supposed to sell them? And if there aren't enough people buying homes, then what happens when we start running out of inventory?