2021 Real Estate Projections
What to expect in the Real Estate Market in 2021 are we going to see a crash???
I don’t know about you, but I’ve found the media to inflate the truth and quite frankly negative headlines to get more viewers. Let’s look at projections for 2021 from people that and have their pulse on the Real Estate Industry. Low interest rates are an indicator of a strong housing market. According to Freddie Mac, they project interest rates to remain low, in fact lower than what we’ve seen in the past 5 years. They are projecting interest rates to be in the low 3’s for the remainder of 2021.
Chief Economist of Realtor.com Danielle Hale, states “We expect home sales in 2021 to come in 7.0% above 2020 levels.” All the major servicers like Fannie Mae, the Mortgage Bankers Association and more are forecasting an increase in home prices in 2021. Not as significant as other increases in previous years, but still an increase.
According to Lawrence Yun, Chief Economist of National Association of Realtors, “This winter may be one of the best winters for sales activity...on a winter-to-winter comparison. This could be one of the best breakout years just based on the fact that pending contracts are at such a higher level.” I hope this is helpful to you in giving you some insight to what 2021 may bring.
I’m always here to help, feel free to contact me at www.lyneacarver.com or 206-962-0247. And remember whether you’re buying a home or selling a home, it all starts with dream. Let’s dream together!