Real Estate Market Analisys for 2021

 

The housing Market was a great surprise in 2020-and the positive trend will continue this year. Homes Sales in 2021 are expected to rise by around 10%. Home prices will also climb! Mortgage rates will continue to be favorable, staying at or near historic low of 3% on average. The labor market will strengthen, especially as vaccines become widely available and life moves forward normally.

 

Around 4 million net jobs could be added, a gradual rebound from the net loss of roughly 7 million during the pandemic year of 2020. The unemployment rate by the year's end could be at 5.5%, a great improvement from 14.7%in April 2020 when the nation was under a strict lockdown, but still a few notches upfrom the generational low of 3.5% right before the pandemic. 

 

Low mortgage rates have been the key reason for the hous­ing market's strong performance in the midst of the pandemic and high unemployment. Time and again, home sales have

responded to rate changes.

 

Tatyana Baytler
Broker & Realtor ®
GCAAR, MAR, NAR

Lagret Real Estate LLC
Sales & Property Management
Office: 443-420-7235
Cell :  443-527-4375
www.LagretRealEstate.com