Rebound Of Housing Market Is Above Preditions

Dated: January 14 2021

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The housing market in 2020 were predicted to rise by a moderate 1% compared to 2019 before anything about the pandemic was known. 

However, once the 4th quarter numbers are finalized, these price gains are expected to grow more than 4% according to the chief economist for the National Association of Realtors. 

While the spring market took a hit due to the shutdowns, the increasing use of technology - from showing homes to signing the contract -  has kept up with the growing demand by first-time and move-up buyers. 

Sales on the more expensive properties have also accelerated.  

Prediction for 2021 is that home prices will level off as long as the inventory of new and resale houses increases to meet buyers demand. 

Even if home prices stay elevated due to limited inventory throughout the next year, "well-qualified buyers will still be able to take advantage of low interest rates" reports the chief economist for Fannie Mae. 

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Karin Waterschoot-Perez

Executive Vice President of Sales Experienced Realtor, Karin Waterschoot-Perez, currently serves buyers and sellers located in and around Franklin County. With over 15 years of experience in the re....

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