Happy new year everyone, its Monday the week of January 18, welcome to Residential Real Estate Made Simple. This is Jack Ma with Century 21 Masters in Walnut.
With 2020 finally behind us and we are now two weeks into 2021, what are we seeing now? Well… Exactly the same with the exception that we are more used to this new way of life.
We are at the beginning of the year so I want to offer five bold predictions for 2021 for you all that are wondering what will this year look like. Let’s jump right into it…
1. Home prices will continue to rise – as you may know, the supply is at all-time low, and the demand is the highest since 2013. Based on the law of supply and demand, the price will continue to go up
2. Inventory will remain tight – The cost of moving up for most sellers who become buyers is too high. Prices have gotten so high but income is not rising fast enough. It becomes very difficult for sellers with equity to be able to finance and buy a new larger home at a price they would like.
3. Most listings will sell and sell quickly – Motivated sellers who priced somewhat reasonably will see a flurry of buyers and offers.
4. Interest rate will remain low – There just simply no logical reason to see the interest rate go up significantly. If anything, it will continue to decline.
5. Number of transactions remain steady – We had strong years in real estate in terms of the number of transactions done in the nation and there shouldn’t be any major ups and downs in that number.
There you have it……it’s always fun to come back to this video at end of 2021 to see how many of these come true.
In the meantime, if you are thinking about buying or selling, or just have questions about real estate, feel free to reach out to me at 909-324-8584 for a free quick chat or consultation.
As always, if you find this video interesting, like it, share it, and subscribe to my YouTube channel and Facebook page below!
I look forward to talking to you soon!
If you have any questions regarding real estate, kindly call at 909-529-1989
