2021 Home Prices are Tremendously Skyrocketing
Home prices in 2021 are expected to continue to skyrocket, just as it did in 2020. Buyers have been yearning to find more spacious homes for their families to occupy and have shown a willingness to pay even higher prices to get what they desire. At Mark Spain Real Estate, we strive to exceed our clients real estate goals and get maximum value for homes. We are thankful to be named the most trusted firm in the residential real estate industry!
What Increasing Home Prices Means for Sellers-
In 2021, we have seen the housing market’s strength remain, as it is driven by a low supply of houses mixed with a high demand to move, low mortgage rates, and very advantageous demographic trends. The low supply of housing and influx of buyers means that it is a sellers market, there is little room for buyers to negotiate on prices allowing higher home prices. Houses are staying in the market for shorter periods of time, allowing sellers to move at a quicker rate!
We offer our Guaranteed Offer Program to accelerate your selling process, by offering a competitive cash offer generating the best possible home price and closing your home in as little as 21 days, Sellers are able to skip the showings and open houses and close on their home stress free. We strive to deliver an unparalleled client experience, and want you to enjoy the process without having to worry about anything, especially during these unprecedented times we are facing today.
Trends To expect in 2021 Contributing to Increasing Home Prices-
- Interest rates are expected to remain low but increase gradually
- The average home price will rise
- Home inventory will remain low, despite new home construction arising
- Home Buyers will seek more suburban areas
Buyers- What the Increases of Home Prices means for you
Lower mortgage rates and rising incomes correspond with the higher allow buyers to find their dream home and afford more to live in with their families. Although home prices are increasing, the average income is also increasing. The trends we are experiencing prompt the residential market as a whole into a steep incline of growth. The mass number of buyers in the market will keep upward pressure on home prices, but rising numbers of home sellers will alleviate those stresses. Consumers are still searching for higher priced homes. Now is the time to find your desired home in your desired location!
Mark Spain Real Estate strives to keep our clients as our top priority and deliver an unparalleled client experience. We are grateful to serve our clients in reaching their real estate goals! Contact us today!