Experts are optimistic that the housing market will continue to remain very active. Interest rates remain very low in comparison with pre-pandemic years, fueling urgency among buyers.
Prediction 1: 2021, in general, will see a positive increase in the economy. The unemployment rate is expected to fall and personal income on the rise.
Prediction 2: Buyer demand on the increase. Consumer confidence as the economy stabilizes will bring out more first-time home buyers and increase competition to secure a home.
Prediction 3: Historically low mortgage interest rates. Buyers will want to get the most bang for their buck! Low rates strengthen buying power.
Prediction 4: Supply remains low and demand is high. It’s still a seller’s market. The number of homes available on the market for buyers wanting to purchase is low. A competitive market continues to push prices up to secure a home. If you have been on the fence about selling, it’s time to make your move.
Prediction 5: Buyers looking for more space will continue to grow. Single-family homes are also serving as a workplace, home school, gym, and more! Outdoor space for play and gathering is in high demand making suburban & rural areas very desirable.
If you want to learn your home’s value in today’s market, give Becky a call (636)326-2290. No-obligation for this FREE evaluation.