We are talking about what to expect in 2021 in the real estate market. Are we going to see a crash? Hi, I’m Sommar Clark with the Clark team South Florida here at Keller Williams. I don’t know about you, but I found the media to inflate the truth and quite frankly, use negative headlines to get more views, but let’s look at projections for 2021 from people that have their pulse and are experts in the real estate industry. They are projecting interest rates to be in the low threes for the remainder of 2021.
Also chief economist of realtor.com, Danielle Hale, states, she says, “We expect home sales in 2021 to come in 7% above 2020 levels.” Also the major servicers like FannieMae, the Mortgage Bankers Association, and more are forecasting an increase in home prices in 2021, not as significant of an increase as the previous years, but an increase. Also, according to Lawrence Yun, Chief Economist of the National Association of Realtors, he states, “This winter may be one of the best winters for sales activity. On a winter-to-winter comparison, this could be one of the best breakout years just based on the fact that pending contracts are at such high levels.”
I hope this information is helpful to you in giving you some insight as to what 2021 actually might bring. Always here to help. Feel free to reach out to the Clark team south Florida here at Keller Williams Wellington. I’m Sommar Clark and remember, we want you to love where you live.