Four Expert Views on the 2021 Housing Market
The housing market was a shining star in 2020, fueling the economic turnaround throughout the
country. As we look forward to 2021, can we expect real estate to continue showing such
promise? Here’s what four experts have to say about the year ahead.
Lawrence Yun, Chief Economist, National Association of Realtors (NAR)
“In 2021, I think rates will be similar or modestly higher, maybe 3%…So, mortgage rates will
continue to be historically favorable.”
Danielle Hale, Chief Economist, realtor.com
“We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s
already high levels.”
Robert Dietz, Senior Vice President and Chief Economist, National Association of Home
Builders (NAHB)
“With home builder confidence near record highs, we expect continued gains for single-family
construction, albeit at a lower growth rate than in 2019. Some slowing of new home sales growth
will occur due to the fact that a growing share of sales has come from homes that have not
started construction. Nonetheless, buyer traffic will remain strong given favorable
demographics, a shifting geography of housing demand to lower-density markets and
historically low interest rates.”
Mark Fleming, Chief Economist, First American
“Mortgage rates are expected to remain low for the foreseeable future and millennials will
continue forming households, keeping demand robust, even if income growth moderates.
Despite the best intentions of home builders to provide more housing supply, the big short in
housing supply will continue into 2021 and likely keep house price appreciation flying high.”
MAY WE ALL HAVE A HEALTHY AND PROSPEROUS 2021!
BE WELL AND STAY SAFE!!
20 CRYDER POINT COURIER | JANUARY 2021 | WWW.QUEENSCOURIER.COM
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