2021 Market Prediction

market prediction

 

2021 Market Prediction

 

The 2020 residential real estate market showed itself to be very resilient ending with a record breaking year in spite of the pandemic and a controversial political climate.   Emerging as a pillar of support for the  U.S. economy, 2020 was a record breaking year with the highest pace of sales growth since the 2005 housing boom.  Unlike the 2005 boom, this one is driven by intense demand and record low interest rates.

 

movingLocally we just wrapped up January with a 12% increase in closed sales along with a 14.9% increase in the median sales price.  In addition, inventory continues at an all-time low (36% lower than this time last year). This is all FANTASTIC news for sellers in 2021.  Whether you need more space, want to downsize, or are looking for that perfect home office ~ now is the time to get your current home ready to list!  Ramseier Group is your one-stop-shop and we are delighted to walk through the process with you.

 

 

Mortgage rates also continue to be at historic lows which makes your buying power much higher! GREAT news for buyers in 2021, however, buyers will need to be more competitive and prepared to move quickly, so having a buyer’s agent in your corner is paramount to secure your dream home this year.  It would be our pleasure to provide a buyer’s consultation and prepare you for this exciting adventure!

 

Many blessings in 2021!