This year’s housing market is shaping up to be the most competitive on record, but the pandemic isn’t the only thing influencing the national real estate boom.
There are actually quite a few factors contributing to today’s hot market, including unfettered buyer demand, historically low supply, and steady interest rates.
Have questions about buying a home in 2021? Get in touch with us for even more personalized advice.
2021’s Real Estate Market More Competitive Than Ever
If you’re planning a move, you might be wondering how the real estate market will change this year—and the predictions are pretty eye-opening. Existing home sales are expected to increase by 9%, home prices could rise by a whopping 8%, and mortgage rates should stay well below 4% for the foreseeable future.
For buyers, this means you may have to work harder than usual to find the perfect place. However, this extra effort will pay off if you have a home to sell or want to take advantage of extraordinarily low interest rates.
