With the new year comes a flurry of forecasts and predictions about the mortgage and housing market. In today’s update, let’s look at a few of the outlooks reporting strong expectations for 2021. As reported by Yahoo:
1. Home prices will go up
In 2020, median listing prices grew 13.3%, according to Realtor.com. Experts forecast prices will stay on this upward track.
“As we wrapped up 2020, housing demand continued to be strong, and asking prices continued to post double-digit percent gains over last year, suggesting additional increases are ahead for the Case-Shiller Index,” said Danielle Hale, chief economist at Realtor.com.