This year has been tumultuous, but we’re expecting the 2021 market to stay strong.
Since we’re still facing a worldwide pandemic, my predictions for our 2021 real estate market will be a bit different than in years past.
My first prediction is that 2021’s first quarter will remain the same whether or not a vaccine is available by then. This is because people will be getting vaccinated at different times depending on age and risk level, so our market won’t see a ton of change immediately. The real estate market depends on the economy and consumer confidence, so it’ll be about the same as it’s been in the final quarter of 2020. Though none of us have a crystal ball, and the worldwide health crisis could throw a wrench into any prediction, we hope that by the second quarter more people will have access to the vaccine.
Overall, I foresee the 2021 market staying strong with continued appreciating prices and low interest rates. The economy will need to recover from the effects of the coronavirus, which, in my opinion, will keep interest rates low. I believe home values will continue to increase because of strong buyer demand. I anticipate the 2021 housing market to stay about the same as this year—very strong, benefit sellers greatly, and keep buyers’ affordability the best we’ve ever seen.
“The real estate market depends on
the economy and consumer confidence.”
If you’re considering making a move in 2021 or have any questions, give us a call or send an email. We look forward to connecting with you.