Real Estate in 2021: Plenty of Reason for Optimism
- Home sales are expected to rise by around 10% in 2021.
- Home prices will also climb, but more moderate increases should help first-time buyers get into the market.
- Mortgage rates will continue to be favorable, staying at near historic lows of 3% on average.
There is plenty of room for optimism in 2021 as the housing market is expected to continue its upward trend. We take a closer look at the year ahead This Week in Real Estate.
“During the pandemic, we learned that most people who work in offices could be just as productive at home, and this new reality will help fuel home sales in the post-pandemic economy.”said Lawrence Yun, chief economist National Association of Realtors