2021 Housing Predictions

December 9, 2020

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The housing market is going strong and will continue to do so in 2021 and beyond. None of us predicted the surge in sales the second-half of 2020. Many of us agents thought our businesses were going to take a huge hit and plenty of sellers would put their moving plans on hold while this pandemic was evolving.

However, the opposite starting happening.  After spending more time at home, home owners  were starting to realize that their homes no longer fit their needs and they wanted to move.  Then, bring on the very low interest rates and an already low inventory market, and we had a bit of a frenzy.

We started seeing multiple offers on most of the homes that were for sale, driving the prices up a bit and buyers waiving many of the contingencies in order to get their home. This continues to be the case even into December and I predict it will be this way for the foreseeable future.

Interest rates are predicted to stay this low for the next few years! This means you have more buying power and now is the time to act. Don’t be intimidated as a buyer. It IS possible to buy a home. Just make sure you have a local agent that is very familiar with the neighborhoods you are looking in and is able to act quickly on your behalf.  The key is to be prepared and persistent! (More about that here: Persistence in Home Buying)

Please reach out anytime you have questions or want to talk about your options. I would love to be the resource you can turn to.