Realty World - Sierra PropertiesLicense #: 00319644

Realty World - Sierra PropertiesLicense #: 00319644

Sellers Likely to Keep Market Advantage Next Year

Buyer competition remains strong, and low inventory is pushing home prices to new highs—so sellers are likely to keep their market advantage next year, according to realtor.com®’s 2021 housing forecast. Home price growth may slow but will continue an upward trend, along with property appreciation for sellers, realtor.com® predicts.

Housing shortages will largely continue to persist, though realtor.com® forecasters predict the number of listings to slowly rebound in 2021. “Additional homes hitting the market will offer buyers some relief in 2021, but it won’t be enough to tip the scales in favor of buyers,” realtor.com® notes. “As inventory slowly begins to replenish and buyer demand for homes remains steady, sellers will continue to be in the driver’s seat.”

However, the ongoing COVID-19 pandemic and the possibility of a double-dip recession are two major wild cards that could lie ahead in 2021, realtor.com® notes.

Source: realtor.com®

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