The housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect real estate to continue showing such promise? Here’s what four experts have to say about the year ahead.
Lawrence Yun, Chief Economist, National Association of Realtors (NAR)
“In 2021, I think rates will be similar or modestly higher, maybe 3%...So, mortgage rates will continue to be historically favorable.”
Danielle Hale, Chief Economist, realtor.com
“We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels.”
Robert Dietz, Senior Vice President and Chief Economist, National Association of Home Builders (NAHB)