With the combination of extremely low inventory and interest rates holding near historic lows, forecasts show 2021 shaping up to be a strong year of originations with increased emphasis on buying.
These conditions created rampant bidding wars and soaring profits for sellers in the past year, while the shift to working remotely caused buyers to flood markets where they could get more space for their money. With home price growth expected to taper after surging in 2020, some markets will stand out above the rest.
Metro areas offering a mix of amenities, relative affordability and a slew of new jobs should expect booms in 2021, according to Zillow’s Hottest Housing Market report.
“While sustained tailwinds are forecasted this year across most of the shifting U.S. housing landscape, certain densely populated markets with high-priced real estate face prevailing headwinds,” Terry Loebs, founder of Pulsenomics, said in the report….