Realtor.com® Housing Forecast: Sellers to Maintain the Market Advantage
The 2020 housing market was full of surprises. Despite a health pandemic impacting nearly all segments of everyday life, real estate was resilient. Realtor.com® recently released its 2021 housing forecast, predicting that inventory will make a slow and steady comeback, providing buyers with much-needed relief. However, increasing interest rates and prices will continue to pose a challenge on affordability throughout the year.
Despite Pandemic, Home Prices Rise
The coronavirus global health crisis and the economic havoc it has wreaked were not enough to deter a rise in home prices so far this year. According to the Radian Home Price Index (HPI), home prices across the U.S. rose in the first six months of 2020 at an annualized rate of 6.3 percent.
Is Real Estate America's Rock During Coronavirus Crisis?
It's been a rough few months for the economy, and we could all use a little good news.
For America's 81 million homeowners, here is some: While retirement accounts and the stock market may have cratered, home values are hanging tough.