Real Estate Deals Cratered In 2020's First Half, But They May Yet Rebound

The real estate market took a big hit in the first half of 2020 thanks to COVID-19, but there’s still time for a recovery before the end of the year.

That’s according to a new report from consulting firm PwC that analyzes the state of US real estate market midway through the year. The report notes that total value of real estate deals was down nearly 50% in the first half of 2020, compared to the second half of 2019. Similarly, the total number of such deals was also down by a half. That was the weakest performance that real estate has posted in at least the past five years, the report notes. But there is reason for cautious optimism.