I don’t know about you, but I’ve found the media to inflate the truth and quite frankly use negative headlines to get more viewers, but let’s look at projections for 2021 from people that and have their finger on the market pulse and are experts in the Real Estate Industry. Low-interest rates are an indicator of a strong housing market.
Hi, I’m Sherri Echols, Broker Associate with RE/MAX Bryan – College Station. According to Freddie Mac, interest rates are anticipated to remain low, in fact, lower than what we’ve seen in the past 5 years, or ever. They are projecting interest rates to be in the lows 3’s for the remainder of 2021. Also, Chief Economist of Realtor.com Danielle Hale, states “We expect home sales in 2021 to come in 7.0% above 2020 levels. Also, 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 of an increase as in previous years, but still an increase. Also 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 information is helpful to you in giving you some insight into what 2021 may bring. If you have questions give us a ring, we are always here to help. Please be sure to like and share this on Facebook and in YouTube hit the subscribe button and the little bell so you don’t miss anything. This is your Community Market Leader Sherri Echols, a helping hand for a happy home