Despite this crazy year, things are looking up for our 2021 market.
Happy New Year from the Parsons Real Estate Team! Today I’ll share what I predict will become of the market in 2021. First, though, let’s take a quick look at what happened in 2020.
It was a crazy year and a wild market, but in the end, our numbers were amazing. We sold almost exactly as many homes in 2020 as we did in 2019; the interesting part is that we pretty much took the whole spring off due to the pandemic surging around that time.
For 2021, I predict that the market will continue to rise between 5% and 7% in value, meaning you’ll have more equity in your home in 2021 than you had in 2020. That’s because we’re going to have the COVID vaccine rolling out, allowing people to get out and find jobs again, which will promote job growth. Mortgage interest rates will stay low, which means we’ll still have a large homebuyer pool, especially once people start to put their homes back on the market.
All in all, I think 2021 is going to be a great year for real estate. If you have any questions, feel free to give me a call. I’d love to help you.