Here’s a look at my predictions for the 2021 housing market.
Last time, we dove deep into the third-quarter statistics for 2020, so if you missed that video, you can watch it here. In 2020, the pandemic and recession sowed chaos basically everywhere, but the housing market remained very resilient.
In 2021, experts forecast market appreciation anywhere from CoreLogic’s prediction of 0.2% up to Zillow’s 7%. So in order to gauge where we’ll be, we need to look at the Boston market and examine each core market.
If you’re in Seaport, for example, those large, elevated buildings have fallen out of favor, though not forever. They’ll likely make a comeback in a year or so. That means if you’re looking to sell in Seaport, prices might be soft for the present, but if you’re looking to buy, it might be a good place to strike a deal.
We suspect that going into 2021, we’ll still have low inventory and low interest rates, and buyers are already getting back out there again, which will make for a strong seller’s market.
If you have any questions about buying or selling a home or what’s going on in your core market, feel free to reach out to us. We’d love to help you.