According to the FT, US stocks have prospered from a V-shaped recovery due to the pandemic.
Futures markets also tipped the S&P 500 to drop 0.4 percent when trading begins today.
The housing industry is adamant the sector can bounce back.
Group CEO of Enness Global, Islay Robinson, said: “The high-end market is one built on a quality over quantity mentality and as a result, a transactional decline can often be more pronounced during periods of market instability, with recovery periods also taking longer.
“That’s certainly been the case of late and while much of the wider market enjoyed a swift return to form following December’s election, the almost immediate industry-wide lockdown that followed in March has prevented the top end of the market from gathering momentum.
“This has been driven, for the most part, by a decline in foreign buyer interest with many unable to travel and therefore opting to put their purchase on hold.”