https://www.bing.com/videos/search?q=free+video+of+orange+county+ca&docid=608013394750690116&mid=2A3BBE6BE2978CF74E102A3BBE6BE2978CF74E10&view=detail&FORM=VIRE

Real Estate Housing Forecast for 2021

Dated: December 31 2020

Views: 81

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

Arna Freedman

Looking for a Pro? Someone who will listen, negotiate and get the home you are looking for with the least amount of stress? I have been successfully working for buyers and sellers in Orange County for....

Latest Blog Posts

Shifting to a Buyer's Market

Three Reasons To Buy a Home in  Market ShiftSome HighlightsThe housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about

Read More

Home Affordability Questions

Affordability Issues affecting your home purchase today.You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s

Read More

Shall I Rent or Shall I Own?

Some HighlightsIf you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home.As a renter, you build your landlord’s

Read More

The Correct Real Estate Advisor Will Win You the House

Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. As a result,

Read More