Housing supply shortage vs Covid-19

[Ben Pearson]

I believe the dramatic rise in unemployment due to the Covid-19 shutdown will cause residential real estate prices to go down considerably.  I am considering selling a rental to have cash on hand to buy back in at reduced prices. 

The one economic indicator that makes me question a drop in prices is the housing supply shortage.  I found the following article on the Freddie Mac website to have some interesting state by state statistics.  http://www.freddiemac.com/research/insight/20200227-the-housing-supply-shortage.page?

In areas with housing shortages, which direction do you see residential real estate prices going?

All the best,

Ben