Four Expert Views on the 2021 Housing Market

Dated: January 3 2021

Views: 39

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

Mike Procissi

Why Should You Choose Me As Your Realtor? . I am a residential real estate broker specializing in the Downriver market. As one of the leading Realtors in the area, I have the skills, experience and ....

Latest Blog Posts

Financial Fundamentals for Homebuyers

Some HighlightsWhen you’re thinking about buying a home, there are a few key steps to take before you even start to look at houses.From saving for your down payment to getting pre-approved for

Read More

What Does 2021 Have in Store for Home Values?

What Does 2021 Have in Store for Home Values?According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months.

Read More

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

The Do’s and Don’ts after Applying for a Mortgage

The Do’s and Don’ts after Applying for a MortgageOnce you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. You're

Read More