HomeSmart - Castle Rock
240 Wilcox Street
Castle Rock, CO 80104
240 Wilcox Street
Castle Rock, CO 80104
Kay Rowe's Blog
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Posted On: February 14th, 2021 10:59PM
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Many experts have predicted another strong real estate housing market in 2021.The three trends below indicate the housing market of early 2021 will continue to follow the trends of the second half of 2020. 1. Increasing Demand for Space. Experts have forecasted an increasing demand for more space from buyers who delayed purchasing homes in 2020 due to the pandemic, including existing homeowners looking for larger spaces.2. Rising Home Sales. NAR’s Chief Economist Lawrence Yun predicts new-home sales will jump 21 percent and existing-home sales will climb 9 percent in 2021. He predicts home prices will rise by 3 percent in 2021. 3. Strong Buyer Competition. With low mortgage rates, buyers will remain plentiful. Low Inventory and multiple offers on in demand properties are likely to remain common until a surge of home sellers occurs. Statistics and Information provided by the Great Plains Multiple Listing Service and National Association of Realtors. |
