The real estate market is continually affected by many different variables which make house prices go up and down. You can see minor shifts in prices each month, however, the large, significant changes in the housing market caused by natural fluctuations in the market sometimes show only after 3-6 months.
Depending on the factor that is pushing the price up or down, the speed of response of the housing market will vary. For example, when the first lockdown restrictions were introduced in the UK back in March 2020, the housing market was fast to reflect that change, dropping by two percentage points in April – such a sharp dip from 2.7 to 0.7 has not been experienced in a few years prior. On the other side of these lockdown restrictions, as things began to open up slowly, the housing market experienced an upsurge. After the initial increase to 2.0 in July 2020, the house prices shot up to 7.6 percent between July 2020 and November 2020.