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2021 Predictions – Boston real estate market

Unlike the leadup to the great recession, home buyers are actually solvent right now with excellent credit and strong stock portfolios,” the “Mad Money” host said.

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Ford Realty Inc., Boston Real Estate for Sale

Ford Realty Inc., Boston Real Estate for Sale

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2021 Predictions – Boston real estate market

The Boston real estate market was a shining star in 2021, fueling the economic turnaround throughout the country. As we look forward to 2021 and beyond, can we expect real estate to continue showing such promise? Here’s what four experts have to say about the year ahead.

Lawrence Yun, Chief Economist, National Association of Realtors (NAR)

“In 2021, I think rates will be similar or modestly higher, maybe 3%…So, mortgage rates will continue to be historically favorable.”

Danielle Hale, Chief Economistrealtor.com

We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels.”

Robert Dietz, Senior Vice President and Chief EconomistNational Association of Home Builders (NAHB)

“With home builder confidence near record highs, we expect continued gains for single-family construction, albeit at a lower growth rate than in 2019. Some slowing of new home sales growth will occur due to the fact that a growing share of sales has come from homes that have not started construction. Nonetheless, buyer traffic will remain strong given favorable demographics, a shifting geography of housing demand to lower-density markets and historically low interest rates.”

Mark Fleming, Chief Economist, First American

“Mortgage rates are expected to remain low for the foreseeable future and millennials will continue forming households, keeping demand robust, even if income growth moderates. Despite the best intentions of home builders to provide more housing supply, the big short in housing supply will continue into 2021 and likely keep house price appreciation flying high.”

Boston Real Estate and the Bottom Line

Whether you’re ready to buy or sell a Boston condo in 2021, if you’re planning to take advantage of the market this winter, contact a trusted real estate professional to learn about the opportunities available in your local market.

The huge demographic groundswell of house-ready millennials will drive prices much higher.  

The demand is in place between millennials, downsizers, move-uppers, and out-of-towners to easily increase sales by 10% 

Boston Condos for Sale Search

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Ford Realty Inc., Boston Real Estate for Sale

Ford Realty Inc., Boston Real Estate for Sale

Boston Condos for Sale Search

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