Four expert views on the 2021 housing market. Many Americans are worried about another crash like what we saw in 2006 because of the housing frenzie we are in now being very similar to what happened prior to the crash in 2006. So, what are the experts saying?
Hi, I’m Sherri Echols, Broker Associate with RE/MAX Bryan – College Station. I want to share with you some quotes from Real Estate Industry Experts to help sum up what to expect. Lawrence Yun Chief Economist of the National Association of Realtors says, “In 2021 I think rates will be similar or modestly higher, maybe 3%……So mortgage rates will continue to be historically favorable.” and Danielle Hale, Chief Economist of Realtor.com says “We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of the 2020s already high levels.” And what about Senior Vice President and Chief Economist of National Association of Home Builders he says “With homebuilder confidence near record highs, we expect continued gains for single-family construction, albeit at a slower growth rate than in 2019. Some slowing of new home sales growth will occur due to the fact that a growing share of sales has come from homes that have not started construction.
Nonetheless, buyer traffic will remain strong given favorable demographics, shifting geography of housing demand to lower-density markets and historically low-interest rates.” So if you’re thinking about selling or buying and taking advantage of the market this winter, reach out to at Sell With Sherri as we are always here to help. Please note none of these quotes were taken out of context, the people quoted truly do anticipate a positive real estate market in 2021. 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 call, 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