|

Redfin’s 10 Predictions For 2021 Housing Market

ByTMN Editor Reading Time: 1 minute

Tis the season for year-end lists and predictions, and Redfin released its top 10 predictions for the 2021 housing market.

Without further ado, here’s the list:

  1. Mortgage rates will remain historically low at 3 percent
  2. There will be more home sales than in any year since 2006, but price growth will slow
  3. There will be more new homes built than in any year since 2006
  4. The number of Americans relocating will be the highest it has been in 16 years, which will help the economies of affordable places like Buffalo, Cleveland and Pittsburgh
  5. The homeownership rate will reach 70 percent for the first time since 2005
  6. San Antonio, Tucson and Tampa will be the hottest housing markets as major southern cities like Austin, Phoenix and Miami become unaffordable
  7. Expensive cities will invest in their culture and lifestyle to attract residents and tourists
  8. Most homebuyers will make an offer on a home sight unseen
  9. 2021 will usher in a new era of price competition for real estate agents
  10. Everything associated with buying or selling a home will be offered at one-stop-shops

We will check in next year at this time to see how they did.