FOUR EXPERT VIEWS ON THE 2021 HOUSING MARKET

Dated: December 31 2020

Views: 41

Four Expert Views on the 2021 Housing Market

Four Expert Views on the 2021 Housing Market | MyKCM

The housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect real estate to continue showing such promise? Here’s what four experts have to say about the year ahead.

Lawrence Yun, Chief Economist, National Association of Realtors (NAR)

“In 2021, I think rates will be similar or modestly higher, maybe 3%...So, mortgage rates will continue to be historically favorable.”

Danielle Hale, Chief Economistrealtor.com

“We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels.”

Robert Dietz, Senior Vice President and Chief EconomistNational Association of Home Builders (NAHB)

“With home builder confidence near record highs, we expect continued gains for single-family construction, albeit at a lower 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, a shifting geography of housing demand to lower-density markets and historically low interest rates.”

Mark Fleming, Chief Economist, First American

“Mortgage rates are expected to remain low for the foreseeable future and millennials will continue forming households, keeping demand robust, even if income growth moderates. Despite the best intentions of home builders to provide more housing supply, the big short in housing supply will continue into 2021 and likely keep house price appreciation flying high.”

Bottom Line

Whether you’re ready to buy or sell a home in 2021, if you’re planning to take advantage of the market this winter, let’s connect to talk about the opportunities available in our local market.

Blog author image

Karen Komo

Helping You Make The Right Move!! Whether you’re ready to buy or sell a home in 2021, if you’re planning to take advantage of the market this winter, let’s connect to talk about the opportuniti....

Latest Blog Posts

FOUR EXPERT VIEWS ON THE 2021 HOUSING MARKET

Four Expert Views on the 2021 Housing MarketThe housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect real

Read More

HOLIDAYS ARE NOT STOPPING NoVA HOME BUYERS THIS YEAR!

Holidays Aren’t Stopping Northern Virginia Homebuyers This YearBlack Friday and Cyber Monday are behind us, yet finding the perfect holiday gifts for friends and family is certainly still top

Read More

WILL MORTGAGE RATES REMAIN LOW NEXT YEAR?

Will Mortgage Rates Remain Low Next Year?In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows

Read More

KEY TERMS TO KNOW IN THE HOME BUYING PROCESS

Key Terms to Know in the Homebuying Process Some HighlightsBuying a home can be intimidating if you’re not familiar with the terms used throughout the process. Above is a list of some of

Read More