Four Expert Views on the 2021 Housing Market
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.
“In 2021, I think rates will be similar or modestly higher, maybe 3%…So, mortgage rates will continue to be historically favorable.”
“We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels.”
“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.”
“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.”
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.
Stay up to date on the latest real estate trends.
Single-family home prices remain nearly 25% above year-ago levels at $2,050,000, even after easing modestly from June's peak.
The most striking story in the East Bay right now is how little is available for sale.
Single-family home prices have surged more than 26% year-over-year, marking the strongest annual gain we've seen this year.
Prices are rising across the board, with the condo market posting its strongest year-over-year gains in years.
Education
In many cases, the insurance proceeds received from a covered claim far exceeds the cost of the one-time premium paid for an owner’s policy of title insurance.
David's East Bay experience, creativity, and dedication to his clients made him a perfect fit for Elevation Real Estate
San Francisco's single-family home market continues to reach new heights, with the median sale price climbing 22.56% year-over-year to $2,200,000. This marks one of th… Read more
Prices are on the rise across the board, with single-family homes and condos both posting year-over-year gains for the first time in over a year.
Median sale prices continue their remarkable ascent, with single-family homes up more than 21% and condos up more than 18% year-over-year.
You’ve got questions and we can’t wait to answer them.