Projections: Real Estate Opportunities

GET IN ON THIS

2021 Projections: Real Estate Opportunities Is this your year to make the right purchase or sale?

Here are some expert projections for 2021 real estate for buyers, sellers, and investors.

Read Reviews from Local Home Buyers & Sellers: Middy.YourRealtor.reviews Middy Matthews

The More Group

Realtor

Office: 734-436-3433

Phone : 734-239-3796

License: 6501383992, MI

middy@arbormove.com

www.ArborMove.com

Message and data rates may apply.

If your property is now listed with a REALTOR® or Broker, please disregard this offer, as it is not our intention to solicit the offerings of other REALTORS® or Brokers. The information contained herein is deemed reliable but is not guaranteed.

2021 PROJECTIONS: REAL ESTATE OPPORTUNITIES

01

2020 was a unique year for real estate. With record-low mortgage rates and federal assistance for mortgage forbearance, the game changed. Now, as we are in 2021, things are continuing to change. Keep up with all the latest and get insight into expert projections by reading on:

02

2020 Summary of Real Estate

2021 Expert Projections

03 - 04

2021 For Home Sellers

05

2021 For Home Buyers

06

Middy Matthews

The More Group

Realtor

Office: 734-436-3433

Phone : 734-239-3796

License : 6501383992, MI

middy@arbormove.com

www.ArborMove.com

2021 PROJECTIONS: REAL ESTATE OPPORTUNITIES

02

2020 SUMMARY OF REAL ESTATE 2020 was a unique year for all types of real estate. For residential real estate, here’s a summary from analysts on the trends and occurrences: Annualized Growth Rate for

Real GDP

4.0

Consumer Prices

2.2

Consumer Confidence

94

Interest Rates in Percentages

Fed Funds Rate

0.1

3-month T-Bill Rate

0.1

Prime Rate

3.2

Mortgage Rates in Percentages

30-Year Fixed-Rate Existing Home Sales New Single-Family Sales

2.8 6,777 873

Median Home Prices in Thousands of Dollars

Existing Home Prices

$311.3K

New Home Prices

$348.4K

From the National Association of Realtors, reporting on Q4 2020.

To see the full report from NAR, click here

Middy Matthews

The More Group

Realtor

Office: 734-436-3433

Phone : 734-239-3796

License : 6501383992, MI

middy@arbormove.com

www.ArborMove.com

2021 PROJECTIONS: REAL ESTATE OPPORTUNITIES

03

2021 EXPERT PROJECTIONS (PART 1) The projections for the next couple of years of residential real estate have some ups and some downs. Here is a summary of the NAR projections for the overall scope of real estate by Q4: Annualized Growth Rate for

Real GDP

5.0

Consumer Prices

5.0

Consumer Confidence

100

Interest Rates in Percentages

Fed Funds Rate

0.1

3-month T-Bill Rate

0.1

Prime Rate

3.2

Mortgage Rates in Percentages

30-Year Fixed-Rate

3.1

Existing Home Sales

6,410

New Single-Family Sales

1,050

Median Home Prices in Thousands of Dollars

Existing Home Prices

$321K

New Home Prices

$348K

To see the full report from NAR, click here

Middy Matthews

The More Group

Realtor

Office: 734-436-3433

Phone : 734-239-3796

License : 6501383992, MI

middy@arbormove.com

www.ArborMove.com

2021 PROJECTIONS: REAL ESTATE OPPORTUNITIES

04

2021 EXPERT PROJECTIONS (PART 2)

Key Takeaways

According to these projections, while interest rates may hold relatively steady, existing-home sales will decrease and new home sales will increase.

Average home prices will also increase in both categories. This may mean that the time to buy is NOW (before these forecasts become a reality).

Middy Matthews

The More Group

Realtor

Office: 734-436-3433

Phone : 734-239-3796

License : 6501383992, MI

middy@arbormove.com

www.ArborMove.com

2021 PROJECTIONS: REAL ESTATE OPPORTUNITIES

05

2021 FOR HOME SELLERS Here are some key predictions from experts on what 2021 will hold for home sellers.

Mortgage Bankers Association

National inventory fell 39.6%

estimates an average of 3.3%

in 2020, making home

in mortgage rates for 2021.

listings scarce.

Both existing home sales and new home sales are projected to increase in quantity and average listing price.

Median listing prices grew

Metro areas alone saw a

14.4% in 2020, with no major

price increase of 8.8% in 2020,

decline predicted.

compared to YOY stats.

Bottom line: demand is high and mortgage rates are affordable, removing barriers to access and giving more people than ever the means to buy a home. This can drive prices up, giving home sellers an opportunity to list at higher-than-average prices.

Middy Matthews

The More Group

Realtor

Office: 734-436-3433

Phone : 734-239-3796

License : 6501383992, MI

middy@arbormove.com

www.ArborMove.com

2021 PROJECTIONS: REAL ESTATE OPPORTUNITIES

06

2021 FOR HOME BUYERS If high prices and high demand are great for home sellers, what do they mean for people who want to buy a home? Low mortgage rates are the ticket to home buyer advantages in 2021. There are three main things to keep in mind: 1

Low Foreclosure Rates

Because of federal mortgage forbearance, 2020 saw a historically low level of foreclosure activity, even in the face of delinquent loans. This has shifted the typical timeline for sellers getting out of homes and buyers getting great deals on pre-foreclosures.

2

Low Mortgage Rates

Mortgage rates have never been and may never be lower. For now, analysts predict that the Fed will keep mortgage rates at their current, record-making low percentages. It is expected that mortgage rate averages will be 3.1% 3.3% throughout 2021.

3

New Construction

New single-family home construction is expected to rise again in 2021 (having fallen in 2020). With as many as 940k new homes coming on the market, home prices are also expected to grow an average of 4.1%. This may mean that the best time to buy is NOW before home prices go up again.

Middy Matthews

The More Group

Realtor

Office: 734-436-3433

Phone : 734-239-3796

License : 6501383992, MI

middy@arbormove.com

www.ArborMove.com

Want to make a strategic investment? Finding the right real estate professional will make all of the difference. Whether you want to buy, sell, rent, invest, or more, I can help! This is my field and I’ll be happy to share my wealth of information as you purchase, sell or invest in real estate this year.

Contact me to learn more!

Get Your FREE Home Value Update at : Middy.FreeHomeValues.net Middy Matthews

The More Group

Realtor

Office: 734-436-3433

Phone : 734-239-3796

License: 6501383992, MI

middy@arbormove.com

www.ArborMove.com

Message and data rates may apply.

If your property is now listed with a REALTOR® or Broker, please disregard this offer, as it is not our intention to solicit the offerings of other REALTORS® or Brokers. The information contained herein is deemed reliable but is not guaranteed.