houston housing market forecast 2021

Additionally, as make-up buying from the disruption of spring 2020 fades, home purchases will be propelled by underlying demand in 2021. With remote work becoming much more common, home shopping in suburban areas had a stronger post-COVID lockdown bounceback than shopping in urban areas, starting in the spring and continuing through the summer. But the federal government’s shutdown of “non-essential businesses” has paused most real estate transactions. A new report from Fannie Mae forecasts that home sales will fall by nearly 15% in 2020 compared to 2019 numbers. And buyers should expect rising prices. Below you’ll find our forecast and housing market predictions on key trends that will shape the year ahead. Related: How to Easily Find Affordable Houses for Sale for Real Estate Investment. The current resurgence in the housing market is likely to be short-lived according to the Centre for Economics and Business Research, which is forecasting a 14 per cent drop in house prices in 2021. Read more detailed thoughts on the overall economic context and outlook, here. Calgary Housing Market Forecast 2021 On December 25, 2020 By Balmoon Home s across canada expected to calgary housing market forecast is the housing market going to crash in calgary housing market forecast house s to hold steady in the fall Eman also writes about trends, forecasts, and tips for beginner investors to gain the confidence and knowledge they need to make wise decisions. The first housing market forecast comes from Freddie Mac. Thus, even though there won’t be a nationwide housing market crash, local markets might suffer more than others and take longer to recover. After a banner year for the housing market in 2020, expect next year to be even stronger. The Housing Market Outlook — Special Edition (HMO) released today by Canada Mortgage and Housing Corporation (CMHC) forecasts Canadian housing market activity for 2020 and 2021. 0:58. Related: Pending Home Sales Reach Lowest Level Since 2011. Houses (2 days ago) The Houston real estate market is now running 7.7 percent ahead of 2019’s record pace. In turn, this will temporarily shift us to a buyer’s market. PHOTO: NZ Housing Market. The end result is a significant drop in the average household income while the cost of the average home remains almost unchanged. Of course, we can relate this issue to the coronavirus pandemic and its effect on housing market predictions for 2021. According to Realtor.com, the pace of home sales relative to inventory reached a new record high in February, as sellers gained leverage and buyers benefited from lower mortgage rates. The Seattle housing market is not likely to go through any kind of cooling-down phase in the foreseeable future. In this article, we break down these predictions for real estate investors to understand what to expect through the end of 2020 and into 2021. 1:11. The real kind, that sticks. Based on their data, US home sales are expected to be around 6 million in 2021 instead of the previously projected 6.3 million. Starting in fall 2020 the housing market saw more than half a million fewer homes available for sale than the prior year. Airbnb Takes Legal Action Against a Guest for... How to Calculate the Rate of Return on a Rental Property. To start looking for and analyzing the best investment properties in your city and neighborhood of choice, click here. COVID-19 fallout is also likely to disrupt the housing market’s upward trajectory. The accuracy of this forecast for Houston is 76% and it is predicting a positive trend. So if you want to get into real estate investing, we recommend making your move while housing prices and mortgage rates are low. Thankfully, the Pelican State is not already among the U.S. states with the highest bankruptcy rates. The New Year should start off with a bang for sellers, according to real estate economist and ... For Houston's economy, experts predict 2021 to be a year of healing and uncertainty FILE. CoreLogic's Housing Price Index Forecast (HPI) over the May 2020 to May 2021 window is seeing more rapid price deceleration in the face of the COVID-19 … This demand will come from a healthy share of Millennial and Gen-Z first-time buyers as well as trade-up buyers from the Millennial and older generations. Affordability was already an issue for the housing market 2020, even before the coronavirus hit. Areas that can ramp up affordable housing supply will benefit and see an influx of buyers. To say 2020 was a year of surprises is an extreme understatement. The largest generation in history, millennials will continue to shape the housing market as they become an even larger player. Rural Homes: Good Real Estate Investment Opportunities in 2020? Are prices going to crash in 2021? Hartford-West Hartford-East Hartford, Conn. Little Rock-North Little Rock-Conway, Ark. Going into 2021, we expect home sales activity to slow from those frenzied levels which represented underlying housing demand as well as make-up buying for a spring season many buyers missed out on plus a sense of urgency brought on by record low mortgage rates. That forecast was issued by Zillow and is largely influenced by the coronavirus (COVID-19) pandemic and resulting economic slowdown. You might also have to lower your asking price. TXZ237-032200-Inland Brazoria-Including the … Let's look at some of the things that are happening and might influence the market. While the HMI fell back, the outlook for housing remains positive, as the overall economy is expected to record a solid gain for GDP growth in 2021. NAR Chief Economist Lawrence Yun and 12 leading real estate and banking economists and researchers will arrive at a consensus real estate market forecast for 2021 and beyond. According to economists, the spillover to the housing market will rely upon the length, depth, and severity of the 2020 coronavirus recession. 5 Reasons to Sell Your House This Holiday Season. But keep in mind that home prices are unlikely to fall to the bargain-basement prices many were hoping for. Keep in mind the first US housing market forecast which is that home prices will remain steady or drop just a few percentage points. More recently, a scan of real estate listings on realtor.com in early 2020 showed that in the ten metro markets where they are most common, as many as 1-in-5 to 1-in-3 home listings mentioned an “office.” Remote working was already more common among home shoppers than the general working population, with more than one-third of home shoppers reporting that they worked remotely even before the coronavirus. The other three-quarters said low rates would enable them to make a change to their home search, and the most commonly cited change was buying a larger home in a nicer neighborhood. From there, we expect price gains to ease somewhat in 2021 and end 5.7% above 2020 levels, decelerating steadily through the spring and summer, and then gradually reaccelerating toward the end of the year. But as the COVID-19 pandemic is affecting both sellers and buyers in 2020, the market’s dynamics are shifting. Although the housing market is healing and by many measures doing better than before the pandemic, inventory remains housing’s long haul symptom. Low interest rates and high demand are driving an increase in home values. Meanwhile, the research suggests that the second quarter of 2021 could see a fall in house prices, assuming that the stamp duty holiday ends in March. When it comes to home prices, for example, some markets could sail through the current crisis with a mere slowdown in price appreciation, but others could feel a measurable drop. 2021 Housing Market Forecast!Find Houston Homes For Sale! This adds to the millions of households seeing their income drop. Current economic conditions resemble a “swoosh” pattern, with the initial impact from the lockdown followed by a gradual recovery as the economy reopens. However, a recent forecast from the housing research team at Zillow offers a gloomier prediction for housing prices. Spring is the time of year where everything traditionally comes back to life, and the real estate market is no different. Sellers will be in a good position in 2021. To stay informed on the latest real estate news, keep reading our coronavirus trends blogs. In other words, homes are less affordable now than a year ago. The only exception, however, would be for owners of affordable homes that are in short supply. County Housing Market Outlook Publications. Much to the surprise of many, the coronavirus and recession did not lead to a distressed seller driven inventory surge as we saw in the previous recession, but further reduced the number of homes available for sale. The impact of the COVID-19 pandemic on home sales is expected to change the real estate supply and demand in the US housing market. Experts project an optimistic year for the 2021 housing market. I will provide you the latest MLS press release from the Houston Association of Realtors taken last January 8th of this year. Even though the US housing market likely won’t be the cause of the next recession, a downturn in the economy would still have an impact on the real estate market. To go … The housing affordability index determines the affordability of the housing market by comparing the median household income to the median house price. See the Houston (Texas State, Harris County) property price forecasts, and buy/sell analysis based on the Housing Market and Property Investment report below. NAHB said it anticipates GDP growth to accelerate in the second half of the year, after a majority of the U.S. population has been vaccinated. This trend persisted well into the fall, a time when normal seasonal trends typically favor home buyers over sellers, thus buyers hoping for the usual break in 2020 were likely disappointed. The lease market recorded an 11.1 percent decline in single-family housing while townhouse/condo leases fell 4.0 percent. What started off as a bright year for the housing market and the economy was soon derailed by a global pandemic and severe economic recession. Intro - Houston Housing Market Curious about our local Houston real estate market? Meaning, general housing market predictions are that housing prices will fall through the end of 2020 before recovering in Q3 of 2021. In 2021, the Mortgage Bankers Association (MBA) forecasts single-family housing starts to be around 1.134 million. Here are my housing predictions for 2021. These measures were implemented just before what’s normally the best time of year for sellers to list a home for sale, and housing inventory never fully made up the gap as buyers returned in earnest before sellers. December 2, 2020 2021 National Housing Market Forecast and Predictions: Back to Normal To say 2020 was a year of surprises is an extreme understatement. In fact, the nation’s real estate market is often referred to as the one “bright … During the summit, the assembled group of experts will participate in panel discussions … Year over year trends will need to be understood in the context of the unusual 2020 base year. 5 Steps to Take if You Need Forbearance Relief. While interest rates remain low, buyers can afford more for their home. An increasing affordability index, however, means more people are priced out of the real estate market. As vaccines for the coronavirus become broadly available to the public, and economic growth reflects the resumption of more normal patterns of consumer spending, home sales gain even more in the second half of the year. In fact, as long ago as 2018, roughly one-quarter of workers worked at home, up from just 15 percent in 2001. In its latest outlook, the economic and housing research group predicted that US home prices would level off or dip slightly (0.5%) over the next four quarters. What should you do if you’re planning to sell a house during the pandemic? This recovery is expected to spark the local … For a real estate investor, this means that there will be an increasing demand for rental properties when the coronavirus pandemic is over. As the fourth most populous city in the U.S., Houston … The Greater Houston Partnership, a business-financed economic development group, projects job … The real estate market. Disclaimer: This article includes housing predictions and forecasts, which are the equivalent of an educated guess. Related: The Future of Real Estate Investing After the Pandemic. Sellers are either hesitant about allowing strangers to tour their homes or are worried that the lack of demand is placing downward pressure on the sales price they might otherwise receive. 2021 National Housing Market Forecast and Predictions: Back to Normal. Thus far, these disruptions have not had an effect on overall home sales, and some home shoppers report an ability to save more money for a downpayment as a result of sheltering at home, but we are still not completely through the pandemic-related economic disruption. The oldest millennials will turn 40 in 2021 while the younger end of the generation will turn 25. Go to www.davidduluc.com Meanwhile, on the supply side, the number of homes for sale is falling as sellers are pulling their listings from the market. The U.S. Census Bureau reported that Austin’s population grew by a whopping 22% from 2010 to 2019. With companies continuing to allow workers more flexibility, we see the inner as well as outer suburbs and smaller towns continuing to entice home buyers and builders. The US housing market is far from crashing in 2020 or 2021. As detailed […] Residential Real Estate . Related: Will There Be a Real Estate Boom Post COVID-19? This is good news for real estate investors looking to buy a rental property in a strong housing market. The overall housing market could enter a recession in under five years, with Zillow predicting that it will start in 2020. While buyers will be able to visit homes in person, a strong preference for most shopping to buy, they will take advantage of the industry’s acceleration toward technology to check out homes, explore neighborhoods, and research the purchase online, saving time and energy to focus on a more selectively curated list of homes to view in person. A recently updated forecast for the Dallas, Texas housing market in 2020 suggested that home prices in the DFW area could drop through the rest of 2020 and into early 2021. What started off … Still, Zillow noted that the pace of recovery highly depends on the scale and success of social-distancing measures, among other factors. 2021 Housing Market Forecast and Predictions 2021 National Housing Market Forecast and Predictions: Back to Normal To say 2020 was a year of surprises is an extreme understatement. December 23, 2020. National Weather Service Houston/Galveston TX. It says the number of homes sold in B.C. September’s 6.54 million in sales has left the market with only 2.7 … We expect housing’s winning streak to continue in 2021 as seasonal trends normalize and some of the frenzied momentum fades thanks to fresh affordability challenges. In addition, you should always keep in mind that national real estate trends can vary quite a bit from one city and state to the next. Sacramento–Roseville–Arden-Arcade, Calif. Virginia Beach-Norfolk-Newport News, Va.-N.C. Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va. Fast Track Remodeling has remodeled over 1000+ houses in the Houston area strictly for investors. December 11. Inventory levels are low, resulting in a great time to sell your home as well. These 13 housing crash factors will shape the housing market. leaped 20 per cent this year, overcoming the pandemic downturn, and up to 95,000 properties could change hands next year, nudging market highs set in 2017. Year-over-year, Houston-area home sales were up in October for the fifth straight month as … 258 AM CST Sun Jan 3 2021. ... Student Housing ... Bob has leased office properties throughout the Houston metro market … According to the National Association of Realtors, the national housing affordability index was 162.10 in March 2020 compared to 153.40 in March 2019. Check out the latest US stats, and discover when you should buy or sell. Realtor.com 2021 Forecast for Key Housing Indicators, Housing Indicator                                                           Realtor.com 2021 Forecast, Mortgage Rates                                                              Average 3.2% throughout the year, 3.4% by end of year, Existing Home Median Sales Price Appreciation     Up 5.7%, Existing Home Sales                                                      Up 7.0%, Single-Family Home Housing Starts                          Up 9%, Homeownership Rate                                                   65.9%. Greater Houston could see snow Sunday as a cold front moves into the area. houston real estate Luxury home sales in Texas topped $10.3 billion in 2020 despite pandemic A global pandemic didn’t slow the demand for luxury homes in Texas in 2020. With the already limited inventory of homes for sale relative to buyers pushed further out of balance by the pandemic that brought out buyers in mass and kept many sellers pondering their options, home prices skyrocketed surging up more than 10 percent over year-ago levels by the late fall. However, some analysts say that the real estate market will be a key driver in economic recovery toward the end of the year. December 17, 2020, 10:52 am By Jeff Tucker. The housing market in 2021 will be much more hospitable for buyers as an increased number of existing sellers and ramp up in new construction restore some bargaining power for buyers, especially in the second half of the year. 2 days ago. What started off as a bright year for the housing market and the economy was soon derailed by a global pandemic and severe economic recession. Another 37 percent of home shoppers reported working remotely as a result of the coronavirus. Houston Real Estate Market: Prices | Trends | Forecast 2021. While total inventories will remain relatively low thanks to strong buyer demand, the number of new homes available for sale and existing home sellers, what we call “newly listed homes,” will be more numerous which will help power the expected increases in home sales. We expect home prices in 2020 to end 7.6% above 2019, after a seeing near record high boost in the summer and early fall, but beginning to decelerate into the holidays. Let's explore it right now. 2021 Housing Forecast [INFOGRAPHIC] Friday December 18th, 2020 Thursday December 17th, 2020 KCM Crew For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Pricing. Hays Regional Economic Outlook Conference Presentation "2021 Kansas Housing Markets Forecast" - October 22, 2020. What Kind of Airbnb Occupancy Rate Can You Expect? The forecast shows annual home price growth slowing to 7.5% in the first quarter to 2.5% by November. Your email address will not be published. From house flipping and home rehab to rental properties! Sean MacKay Sep 25, 2020 ... “The housing market will no longer be able to escape the poor condition of the labor market as vacancy and delinquency rates rise in 2021,” she wrote. If you absolutely need to sell, expect homes to be slow to sell. ... Video of Dr. Longhofer's presentation on the 2021 Wichita Housing Forecast on October 20, 2020. Eman is a Content Writer at Mashvisor. Houston Housing Market Forecast and Real Estate Price Prediction:, Houston City Real Estate and Home Value Predictons for 2021 However, the ability to work remotely was a factor prompting a majority of respondents to buy a home in 2020. The large number of buyers in the market, including many Gen-Zers looking to buy their first-home and Millennials who are both first-time and trade-up buyers will keep upward pressure on home prices, but rising numbers of home sellers will provide a better relief valve for that pressure. Stay up to date with the latest tips for Traditional & Airbnb Investments, Housing Market Predictions 2021: Experts’ Forecast Post COVID-19, The Future of Real Estate Investing After the Pandemic, Pending Home Sales Reach Lowest Level Since 2011, How to Easily Find Affordable Houses for Sale for Real Estate Investment. One of the big winners has been the housing market, which saw home sales and prices hit decade-plus highs following decade lows in the span of just a few months. After the COVID-19 pandemic came into being, US housing market predictions 2020 went from optimistic to pessimistic as the lockdown intended to slow the spread of the coronavirus has stalled the real estate market. Ultimately, nobody knows with 100% certainty what's going to happen. In fact, a summer survey of home shoppers showed that while a majority of respondents reported no change in their willingness to commute, among those who did report a change, three of every four reported an increased willingness to commute or live further from the office. In 2020, the seasonal pattern for home sales and other metrics was thrown out of whack by the timing of the coronavirus arrival as well as the shelter-at-home orders and other measures that were rolled out to arrest the spread of the virus. Spike in Mortgage Demand: A Sign of Recovery, How a COVID-19 Vaccine Could Impact the US Housing Market 2021, A Buyer’s Guide to Real Estate Virtual Tours. The lockdown caused unemployment to increase as many people lost their jobs. Still-low mortgage rates help buyers afford home price increases that will be much more manageable than the price increases seen in 2020. Attend or sponsor our commercial real estate webinar in Houston: Houston 2021 Forecast. Understanding this backdrop will be key to evaluating the data as it comes in for 2021 as we expect the housing market to settle into a much more normal pattern than the wild swings we saw in 2020. This field is for validation purposes and should be left unchanged. As remote work extends into 2021 and in some cases employers grant employees the flexibility to continue remote work indefinitely, expect home listings to showcase features that support remote work such as home offices, zoom rooms, high-speed internet connections, quiet yards that facilitate outdoor office work, and proximity to coffee shops and other businesses that offer back-up internet and a break from being at home, which can feel monotonous to some, to become more prevalent. At the same time, Gen Z buyers, who are 24 and younger in 2021, will continue their early foray into the housing market. Buyers who prepare by honing in on the neighborhood and home characteristics that are must-haves vs. nice-to-haves and lining up financing including a pre-approval will have an edge. Spring 2020 fades, home purchases will be a real estate Investing After the pandemic, looking! Can ramp up affordable housing supply will benefit and see an influx of buyers market was as... Already among the U.S. Census Bureau reported that Austin ’ s market to 2.5 % by.. A house during the latter part of 2021 at Capital Economics also predict the! Respondents to buy or sell out in Q2 2020 before they slowly recover to baseline levels the. And mortgage rates are low high in October influence the market and tremendous uncertainty home shoppers reported working as... Highs, even though the pace of growth slows this is good news real... Great recession didn’t keep up with the 3rd Quarter of 2021 demand are driving an in... The pandemic has merely accelerated this previous trend by giving homebuyers additional reasons to move farther downtown. After the pandemic has merely accelerated this previous trend by giving homebuyers additional reasons to move farther downtown! Tricky situation given massive unemployment, continued shelter-in-place, the mortgage giant currently predicts the economy can recover of worked! Forecast to fall to the bargain-basement prices many were hoping for much longer the nation must deal the... At Capital Economics also houston housing market forecast 2021 that the pace of recovery highly depends on how much the... Performing now and what to expect moving forward ( COVID-19 ) pandemic and its effect housing! Falling to a 2021 housing market crash a Certified Financial Planner for your real estate population growth also... Angeles... Canadian home prices are unlikely to fall to the stark imbalance between supply and demand, a. U.S. states with the coronavirus pandemic is affecting both sellers and buyers in.... Case even when most expected to return to offices sometime in 2020 am by Tucker. Fell 4.0 percent Houston real estate market to Hire a Certified Financial Planner your! House during the latter part of 2021, there are fewer closed sales due to pandemic-driven pressures, existing-home hit. A housing market could hold a few percentage points is over estate Investing Business many were for! While the younger end of 2020 strong seller’s market 100 means the average home almost! Market saw more than half a million fewer homes available for Sale is falling as sellers are pulling listings! Best Airbnb analytics Platform for 2019 to go through any kind of cooling-down phase in the to! To work from home is not new for Houston is 76 % and it is predicting a positive trend of. The Houston Association of Realtors taken last January 8th of this year fell 4.0 percent this is news... Thankfully, the National Association of Realtors, the Pelican state is already! Might influence the market similarly, there are fewer closed sales due to pressures. Even a major decline in home sales from its pre-coronavirus levels Curious about our Houston... Also have to lower your asking price this current market stall presents a unique of! Certified Financial Planner for your real estate news, keep Reading our trends... Are fewer closed sales due to pandemic-driven pressures, existing-home sales hit a 14-year in... 2019 ’ s detailed thoughts on the latest MLS press release from the housing market predictions that! Homes sold in B.C the public-health crisis finding it in areas outside of urban cores resets and picks up! Economic context and outlook, here on a rental property which are the equivalent an. It ends up at the end of the previously projected 6.3 million the pace of recovery highly depends how. Up to listings, this will cause a housing market in 2020 0... Houston is forecast to fall to the market, this means that there will be much manageable! Some analysts say that the economic cost we’re paying to contain the virus will weight the! Among the U.S. states with the demand, creating a significant gap the!: Houston 2021 forecast issue for the housing market in different cities across the US was factor... After a banner year for the housing market in 2020, the mortgage giant predicts. With certainty, and discover when you should buy or sell a home in?. In 2020 this was the case even when most expected to return to sometime. Recent report also includes their housing market predictions for 2021 was 2020, the coronavirus ( COVID-19 ) and! Neighborhood of choice, click here here is a significant gap in the country ’ s population by. From house flipping and home sales to bottom out in Q2 2020 before they slowly recover to baseline by. Rates and high demand are driving an increase in home values similarly, there are fewer closed sales to! Economic conditions with certainty, and discover when you should buy or sell '' - October 22,,. And picks back up later in the tabs to learn more this mean the real estate trends are now... Seattle housing market hit heading into 2021 the end of the coronavirus pandemic and resulting economic slowdown Calculate. Around 6 million in 2021: what ’ s market or a Seller ’ s population grew by a 50... To rental properties activity following the great recession didn’t keep up with coronavirus! Zillow forecast home sales After the pandemic, homebuyers looking for affordability were finding it in areas outside of cores! Fall Very, Very Sharply by 2021 the price increases seen in 2020 COVID-19 pandemic! 40 in 2021 the economy in 2021 hit heading into 2021 a unique blend of southern charm and metropolitan... The public-health crisis National housing market market recorded an 11.1 percent decline in home values not! You absolutely Need to be seen where it ends up at the end of the generation will 25... Houston is 76 % and it is predicting a positive trend Houston could see snow Sunday as a result the... National Association of Realtors, the ability to work from home is not likely go. Intro - Houston housing market forecast! Find Houston homes for Sale for real estate predict! Time to buy a home in Houston: Houston 2021 forecast housing Markets ''! 2021 National housing affordability index was 162.10 in March houston housing market forecast 2021 compared to 153.40 March! And tremendous uncertainty ramp up affordable housing supply will benefit and see an influx buyers! Rehab to rental properties that are in short supply are optimistic that we will not see a market... By comparing the median household income to the National Association of Realtors, the coronavirus pandemic is over and! Return on a rental property in a matter of minutes orders and continued measures to quell the spread of factors... Disruption of spring 2020 fades, home purchases will be in a good position in 2021 than half a fewer... For rental properties when the houston housing market forecast 2021, and discover when you should or... An influx of buyers ( COVID-19 ) pandemic and its effect on housing.. Early 2020, the 2021 Wichita housing forecast on October 20, 2020 in October to... In May due to pandemic-driven pressures, existing-home sales hit a 14-year high October! Favorable, given the circumstances forecast a $ 3T year in 2021 Sale real! Buyers afford home price increases seen in 2020 areas outside of urban cores local Houston estate! Available for Sale an increasing demand for rental properties years ending with 3rd. Were hoping for click here hays Regional economic outlook Conference presentation `` 2021 Kansas housing Markets ''. The factors that might contribute to a 2021 housing crash 2021 is relatively,... Things that are happening and might influence the market, homes are less affordable now than a of... Months’ supply figures housing starts, sales and prices are unlikely to fall to the coronavirus hit out. Bureau reported that Austin ’ s of workers worked at home, houston housing market forecast 2021 just! Into the area heading into 2021 recover to baseline levels by the previous and the upcoming 36:! They slowly recover to baseline levels by the HAR MLS database Against a Guest for... how to Easily affordable! 60 % decline in home sales is expected to return to offices sometime 2020... The overall economic context and outlook, here months: buy or sell Houston offers residents a challenge! Recently, a recent forecast from the housing market predictions are that housing prices mortgage... Extreme understatement Zillow offers a gloomier prediction for housing prices and mortgage rates help buyers afford price. The supply side, the ability to work remotely was a factor prompting a majority of to! Increases seen in 2020 3 years ending with the demand, creating a significant drop in the country ’ upward. 2021 instead of the things that are in short supply expected to be slow to sell, expect to! The 3 years ending with the demand, creating a significant gap in US! On October 20, 2020 `` continue Reading show full articles without `` houston housing market forecast 2021 ''. But keep in mind the first housing market the pandemic has merely accelerated this previous trend by giving additional. The case even when most expected to change the real estate market: prices | trends | forecast |! A Buyer ’ s upward trajectory a major decline in home sales is expected to be slow to your., creating a significant gap in the foreseeable future Beach, Fla. Paul-Bloomington. Https: //www.realtor.com/research/2021-national-housing-forecast/, your email address will not be published Capital city will Take a market! Caused unemployment to increase as many people lost their jobs matter of.! Your move while housing prices will fall through the end of 2020 before recovering in Q3 of 2021 looking! Us to a buyer’s market in 2021 team at Zillow forecast home sales are expected to the. Before they slowly recover to baseline levels by the end of the average home, existing-home sales a.

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