Real estate experts believe that Singapore and the rest of the world may be in for a major downturn in the next couple years, which could lead to fewer home sales in the 2021 calendar year. The number of existing home owners looking to sell their homes has dropped off significantly from its highs of the past, according to national and state statistics. Meanwhile, there are fewer first-time home buyers, and those who are buying homes are not as enthusiastic as they were a few years ago.

While there is no clear indication of an impending home seller’s market, the drop in overall housing activity may lead to fewer home sales in the future. One indicator of a potential decline is the fact that mortgage loan applications have steadily increased over the past five years, but only half of all applicants are approved. This increase may be caused by tightening …