If the real estate market resets and picks back up later in the year, listings and sales will likely increase. CoreLogic's Market Risk Indicator predicts 125 metro areas have at least a 75 percent probability of price decline by May 2021 and prices are expected to retreat in … to an analysis by ATTOM Data Solutions, the number of cases somewhere in the The stock market seemingly fell off a ledge in February and hit bottom in March 2020. But if you can, you may want to wait a few months to see is things will shift from a buyer’s market to a more balanced market. A forecast by Haus shows home prices dropping between 0.5 and 2.5 percent from October 2020 to July 2021. According to Zillow, the housing market forecast for 2021 has improved but lingering economic uncertainty may temper some of the predictions. should call your mortgage servicer to see where you're at. Anywhere from about 225,000 to Similarly, there are fewer closed sales due to social distancing measures. Housing market predictions for 2021 review. You might also have to lower your asking price. Keep in mind the first US housing market forecast which is that home prices will remain steady or drop just a few percentage points. It’s almost impossible to make reliable housing market predictions for 2021. In other words, homes are less affordable now than a year ago. If this is the case for you, then you’ll have a seller’s market as soon as people are allowed to go back out shopping. Mortgage rates should remain stable, near 3%, all the way through 2021.” Despite the coronavirus … Double dip recession - The possibility of a double dip recession is still in play for 2021. Existing Home Sales Rebound. Meaning, general housing market predictions are that housing prices will fall through the end of 2020 before recovering in Q3 of 2021. As we approach the end of 2020, and reflect on all that has happened in the past year, we analyze current trends that may affect the spring housing market for 2021. Eman also writes about trends, forecasts, and tips for beginner investors to gain the confidence and knowledge they need to make wise decisions. Zillow’s latest forecast is based on the assumption that the GDP will decrease by 4.9% in the United States this year and then increase by 5.7% in 2021. The country faces a possible foreclosure surge over the coming Then, as the rate of buyers catches up to listings, this sales and listings dynamic will start to balance out. Airbnb Occupancy Rate Up 13% as Market Recovers. How to Get Into Rental Properties with Mashvisor. Amid COVID-19 uncertainty, 2021 will be a robust sellers market as home prices hit new highs (+5.7%) and buyer competition remains strong, according to the realtor.com® 2021 housing forecast released today. Corelogic’s forecast predicts home prices nationally will have fallen 6.6 percent year-over-year by May 2021. Home prices are forecast to go up in 2021, but at a slower pace than in 2020. "For Texas for example, I wouldn't be surprised if we saw anywhere from a 100-percent increase in where the foreclosures where this year, versus where they are next year, in other words, I would not be surprised if we saw between 100 and 200,000 foreclosures in Texas within the next year,” said Khirallah. quarter of 2021. More from The Active Times: Will Airbnb Survive the COVID-19 Pandemic? They won't start that until you're “When we go to the housing market forecast,” he added, “all good news. Either way, COVID-19 will have a large impact on the U.S. housing market in 2021. If you have a Mashvisor account, use our Property Finder to find lucrative rental properties that you can afford according to your budget and investment criteria! level of about 145,000 to roughly 336,000, and that's just in the second example, typically mortgage companies won't start the foreclosure process, and The housing market is in a tricky situation given massive unemployment, continued shelter-in-place, the coronavirus, and tremendous uncertainty. Related: How to Easily Find Affordable Houses for Sale for Real Estate Investment. For a look at the full analysis by ATTOM Data by foreclosure process, I mean sending out a notice of default, accelerating Prices of existing homes are expected to rise 2.7% in 2021, compared with … The coronavirus pandemic has cast a shadow over the nation's eight-year housing market boom, and the predictions are eye opening. The overall housing market could enter a recession in under five years, with Zillow predicting that it will start in 2020. However, after a massive 44% month-over-month rebound in U.S. pending home sales in May and another strong 9.6% rebound in September, the U.S. housing market is stronger than ever! Analysts were already predicting a housing market crash. However, some analysts say that the real estate market will be a key driver in economic recovery toward the end of the year. This is good news for real estate investors looking to buy a rental property in a strong housing market. Fannie Mae’s Duncan offers 2021 housing market forecast The economist shares his thoughts on the unemployment rate, housing starts, the likelihood of … How will this impact the housing market in 2021? Many Tenants are Still Paying Rent But It May Not Last. 500,000 homeowners across the country could face possible foreclosure If you want to start searching for a rental property for sale, do so with Mashvisor and enjoy 15% off if you sign up now! Some have forecast big price falls next year. Under this scenario, Zillow forecasts house prices to drop by 2% – 3% by October from their February values. But like Freddie Mac, experts at Zillow also predict a slow recovery, estimating that home prices will return to their pre-coronavirus levels by late summer of 2021.