Home Prices Predicted to Decrease as Housing Market Shifts
Housing prices are predicted to decrease to match the current market. Let's dive into how being fully approved to buy will help you secure your next home.
Housing prices are predicted to decrease to match the current market. Let's dive into how being fully approved to buy will help you secure your next home.
Cities and suburbs each have their own lists of pros and cons. Let’s take a closer look at moving trends to help you decide on your next big move.
The last remaining months of 2021 saw a decline in home sales, however, this is not the case for the beginning of 2022. According to the National Association of Realtors®, existing-home sales saw a surge in January of 6.7%, a decrease of 2.3% from the amount of homes sold in January 2021.
The onset of the COVID-19 pandemic spread fear across the country for the sake of personal safety and economic stability alike. As America shut down, and restaurants and offices closed, many believed that the housing market would suffer the same fate. But as restrictions weaned throughout 2021, people who were stuck inside over lockdown were eager to buy and sell. Let’s take a look at 2021 and how the housing market defied all odds.
Like most industries, the real estate industry experiences market fluctuations depending on the time of year. Spring has always been the busiest season for home buying and selling as warm weather encourages open houses, tours, and moving. However, the COVID-19 pandemic flipped the script in 2020 after homeowners were forced to stay put throughout the spring and summer. As a result, researchers expected real estate in 2021 to display a stabilization, but a new survey from Realtor.com® depicts just the opposite. As the buyer demand remains strong, sellers are choosing to list their homes this winter instead of waiting for spring, creating a seller’s surge in the market.
The pandemic continues to influence the housing market nationally as home prices consistently increase each month. A recent study from CoreLogic shows home prices have increased year-over-year by 18% from September 2020 to September 2021. Additionally, month-over-month, home prices have increased by 1.1% from August 2021 to September 2021.
Contrary to popular belief, home sales don’t halt during the colder months. In fact, over one million homes were sold from December 2019 to February 2020. While the winter season does not see the same amount of home sales as that of the spring and summer seasons, there are benefits to selling a home during the winter
The real estate market could be heading into better territory this fall season. Learn which factors will contribute to a successful season.
Whether you are buying or selling a home, consider the 2021 home price forecasts to foresee which direction the market is predicted to go for the future.
Will the 2021 housing market continue to be as successful as the end of 2020? Here are the 2021 real estate trends you need to know.