What the Future Holds for the Rest of 2021

Here’s what you can expect from the rest of our 2021 real estate market.

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Buying a Massachusetts home? Click here for full MLS access

What’s the market forecast for the rest of 2021? It was anticipated that between 5 and 5.25 million units would be sold nationwide throughout the year, which would equate to about 10.5 million transactions among buyers and sellers. Strong sales were also anticipated, and we’re finding that even though interest rates are low, they have a tendency to move upward, which will prompt people to move quicker.

In the summertime, as more people receive their vaccinations and we’re able to further bypass the COVID-19 hurdle, we expect inventory to flow into the marketplace. People who’ve been staying inside for the past 18 months and held off on their home-selling plans due to COVID-19 will most likely finally list their properties. As the moratoriums are lifted for rent evictions and foreclosures, we also expect to see a surge of buyers. 

If you’d like to talk more about what the future holds for the rest of the 2021 market or have any questions at all, don’t hesitate to call or email me. I’d love to speak with you.

What’s Going on in the Market?

Today we’ll discuss the status of the current real estate market.

Selling your Massachusetts home? Get a home value report

Buying a Massachusetts home? Click here for full MLS access

As we move into the spring market, we’re finding that low inventory still prevails. That means there just aren’t enough homes for the number of buyers attempting to become homeowners. Low interest rates are still very attractive, but there’s upward pressure on them, meaning that buyers will want to move quickly if they want to take advantage of them.

Our robust economy notwithstanding, many people have suffered the consequences of the pandemic and many businesses have been adversely affected. Still, well-priced homes are selling at a brisk clip. It’s not unusual for appropriately priced homes in good condition to be generating multiple offers.

Buyers are waiving contingencies to stay competitive.

 

That’s why having a skilled agent by your side is so important—you’ll want professional help to navigate the waters of a multiple-offer situation. That way, if you’re selling a home, you’ll be able to optimize your sales price and terms. In some cases, buyers are waiving inspection, appraisal, and financing contingencies in order to make their offers highly acceptable in an extremely competitive environment.

If you have any questions about the market or real estate in general, please feel free to reach out to us. We’d be more than happy to provide you with answers.