Four Expert Views on the 2021 Housing Market

Dated: January 12 2021

Views: 13

Four Expert Views on the 2021 Housing Market

Four Expert Views on the 2021 Housing Market | MyKCM

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 Economistrealtor.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 EconomistNational 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 stronggiven 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.”

Bottom Line

Whether you’re ready to buy or sell a home in 2021, if you’re planning to take advantage of the market this winter, let’s connect to talk about the opportunities available in our local market.

Blog author image

Kelly Rosvold

Kelly has lived throughout the South Bay, Westside, and Los Angeles area for more than two decades, with 16 years of that residence in beautiful Hermosa Beach.  As a homebuyer and home seller, she di....

Latest Blog Posts

Don’t Wait for a Lower Mortgage Rate ~ It Could Cost You…

Don’t Wait for a Lower Mortgage Rate – It Could Cost YouToday’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in

Read More

9 Tips for Buying and Selling Your Home at the Same Time

9 Tips for Buying and Selling Your Home at the Same TimeSelling your home when you still need to shop for a new one can feel daunting to even the most seasoned homeowner––especially when

Read More

~ Are Houses Less Affordable Than They Were in Past Decades? ~

Are Houses Less Affordable Than They Were in Past Decades?There are many headlines about how housing affordability is declining. The headlines are correct: it’s less affordable to purchase a

Read More

With Rents on the Rise, Is Now the Time to Buy?

With Rents on the Rise – Is Now the Time To Buy?According to recent data from realtor.com, median rental prices have reached their highest point ever recorded in many areas

Read More