It is that time of the year (and oh, what a year it has been) for all the prognostications about what’s going to happen in the new year of 2021. Realtor.com says that anyone who said 2020 was “a year of surprises is an extreme understatement.” And, to that end, they recently released their 2021 Housing Market Forecast in which they say they expect to see a strong spring and summer homebuying season. Indeed….
“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. Below you’ll find our forecast and housing market predictions on key trends that will shape the year ahead
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%|