Real Estate Forecast January 2021 Kimmy Rolph Real Estateis all about What to expect in the Real estate Market in 2021. Are we going to see a crash???
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 are experts in the Real Estate Industry. Low-interest rates are an indicator of a strong housing market. According to Freddie Mac, they project interest rates to remain low, in fact, lower than what we’ve seen in the past 5 years. They are projecting interest rates to be in the low 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 previous years, but still an increase.
According to Lawrence Yun Chief Economist of The National Association of Realtors states “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. Reach out anytime even if you have any questions. We’re always here to help, Kimmy Rolph sells The Main Line and local areas.