Where Do Experts Say the Housing Market Is Heading?

As we enter the middle of 2021, many are wondering if well see big changes in the housing market during the second half of this year. Heres a look at what some experts have to say about key factors that will drive the industry and the economy forward in the months to come.

realtor.com

. . . homes continue to sell quickly in whats normally the fastest-moving time of the year. This is in contrast with 2020 when homes sold slower in the spring and fastest in September and October. While we expect fall to be competitive, this years seasonal pattern is likely to be more normal, withhomes selling fastest from roughly now until mid-summer.

National Association of Realtors(NAR)

Sellers who have been hesitantto list homes as part of their personal health safety precautionsmay be more encouraged to list and show their homeswith a population mostly vaccinated by the mid-year.

Danielle Hale,Chief Economistatrealtor.com

Surveys showed that seller confidence continued to rise in April. Extra confidence plus our recent survey finding thatmore homeowners than normal are planning to list their homes for sale in the next 12 monthssuggest that while we may not see an end to the sellers market,we might see the intensity of the competition diminishas buyers have more options to choose from.

Freddie Mac

We forecast that mortgage rates will continue to rise through the end of next year. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.

Bottom Line

Experts are optimistic about the second half of the year. Lets connect today to talk more about the conditions in our local market.