Last year, 2020, showed us how dramatically forecasts and plans can be turned upside down. Many of last year’s New Year’s Resolutions were sidelined or set aside. Are you reviving the goals that you didn’t hit last year, setting new goals, or skipping New Year’s Resolutions all together?
The 2021 California Housing Market Forecast provided by the California Association of Realtors was released in Quarter 4 2020*. The 2021 Forecast includes the following predictions:
1. The average 30-year fixed mortgage interest rate will dip to 3.1 percent
2. The median sales price is forecast at $648,760
3. A more moderate price growth in home prices in 2021
4. Continued strong home buyer demand due to low interest rates and financially capable home buyers entering the market
As the California Association of REALTORS Senior Vice President and Chief Economist Leslie Appleton-Young stated:
“The uncertainty about the pandemic, sluggish economic growth, a rise in foreclosures, and the volatility of the stock market are all unknown factors that could keep prices in check and prevent the statewide median price from rising too fast in the upcoming year.”*
2021 Opportunities for Home Buyers and Home Sellers
2021 will have opportunities for home buyers — low interest rates — and home sellers — selling for top dollar and quickly! Good news for buyers & sellers!
It is a common question: is this a good time to buy? Is this a good time to sell? There are always opportunities in real estate. What really matters is where the opportunity and timing coincide for you personally. Example: low interest rates are fantastic for buying, but if you are living in your forever home, it is an opportunity you might not seize.
As a real estate brokerage, our goals include helping more people become homeowners and helping home sellers navigate the sale of their home and relocation.
Moving is stressful: the packing, switching addresses, cardboard boxes, unpacking, and re-establishing yourself in a community can be daunting (even when it is not a pandemic).
When you call me as your agent, my goal is to reduce your stress. I help people get the answers they need and show people the path of escrow in home buying and selling.
If you are setting real estate goals in 2021, then reach out to me and let’s talk. Whether it is purchasing an investment property, relocating out-of-state, selling your family’s home, or buying your first home, I can help.
We help clients with 1031 exchanges, trust sales, probate sales, investment properties, first time home buying purchases, contigent or chain sales, and new home purchases.