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2021 Real Estate Forecast is in!
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| 2020 was full of the unprecedented and unexpected, which has left many wondering what's in store for 2021. The experts have taken a look at a multitude of factors and predicted the following for the real estate market. |
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Existing home prices rose by a huge 15% in 2020. Prices are expected to continue to rise, although perhaps not quite as drastically. Waiting for a drop? It's not likely to come anytime soon.
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Interest Rates are expected to remain low - with 15 year mortgages expecting to hover around 3%. This is an incentive to buy despite the rise in prices. Your money goes further with a low interest rate mortgage.
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Demand for homes is only expected to increase in the coming year, due partly to the low interest rates. In addition, if there is forgiveness for student loan debt, there is expected to be a surge of first time home buyers entering the market.
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Inventory is down greatly - in November 2020 inventory was down 20% from the previous year. This means homes are selling fast, and for top dollar. In November, 7 out of 10 homes were on the market less than a month.
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NOW is the time to sell. If you want to get top dollar for your home, there has never been a better time. We have a long list of people looking right now. Homes are selling fast with multiple offers. This is a GREAT time to sell.
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Expect competition! You need to get all your ducks in a row, as well as an experienced agent in order to have a chance in this market. Get pre-approved and know what you're looking for so you can act quickly.
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| We provide a full range of professional services à la carte – real estate, accounting, tax, business consulting, bookkeeping, quickbooks, financial services and insurance to ensure that you get the level of support you require with superior client service. We are your trusted problem-solver; your confidant, and your business adviser all rolled up together. |
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Augustedge, PLLC & Real Estate
Wenatchee Office
521 S Chelan Ave, Suite A.
Wenatchee, WA 98801
509-494-8500
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Augustedge, PLLC & Real Estate
Tri-Cities Office
Cynergy Centre
4309 W. 27th Pl., Suite 105
Kennewick, WA 99338
509-581-3004
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Augustedge, PLLC
Chelan Office
107 Emerson Ave. Suite #1 & #4
Chelan, WA 98816
509-494-8500
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Augustedge, PLLC & Real Estate
Quincy Office
21 D St. SW, Suite A
Quincy, WA 98848
509-794-0610
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