According to many trusted sources the predictions for the 2021 real estate market looks strong especially for sellers, because of high prices and inventory low. However, many studies are showing the the low inventory and rates will both be making a climb back to normal which could shake things up and give buyers a little break.
We are expecting a stable, strong market for most of 2021. As we get later into the year, more inventory can be expected and an increase in rates. For buyers more to chose from is great but increased rates might be challenging for some. Realtor.com expects home sales to increase at least 7 percent and home prices could reach new highs. It is anticipated that more new homes will be built in 2021 since 2006 so for home builders this will be an exciting time.
Many predictions are pointing towards the spring to be one of the hottest markets we have ever seen. If you find yourself in the market, make sure you educate yourself on the new trends and be prepared for a new experience. Buying or selling a home now is different than it ever has been.