Despite the pandemic, 2020’s real estate market saw some exciting highs for people who sold their homes. If you’re thinking about getting in on the action this year, there are a few important things to know.
2021 is expected to be another good year for sellers, according to realtor.com’s 2021 Housing Forecast. Our team of economists is expecting the number of buyers in the market to continue to outweigh the number of homes for sale. And, while home prices won’t grow quite as fast as they did in 2020, our experts are projecting that they’ll continue to reach new highs.
As you consider your options, timing and strategy, it’s also important to note that a combination of higher prices and rising mortgage rates throughout the year could begin to make affordability a challenge for some buyers, especially first-time buyers. And, regardless of these factors, the strength of the 2021 housing market will certainly be impacted by our nation’s success in containing the pandemic and staving off a double-dip recession.
There are so many nuances to know if you want to move in 2021, but whether you’re planning to upgrade or downsize or simply relocate somewhere new, here are five tips for making it a smooth transition: