I assume it’s based on a low supply of houses.
I was researching the apartment market this week. The apartment turnover rate is very low these past few months. People aren’t moving. Maybe it’s similar for houses.
There is a lot of uncertainty in the economy. For example, is this a good time to buy/sell a home? Well, it depends on where the economy is headed. Where is the economy headed? Well, it depends on where the pandemic is headed, where the riots are headed, and whose going to be president. Etc.