Here are 3 home-selling predictions for 2021 worth taking into account:
- Demand for homes will rise – Due to the unpredictable nature of the pandemic, demand slowed substantially in April 2020. Now that we have a better understanding of COVID-19 and ways to be safe, demand has risen again even though the inventory has remained somewhat low.
- House values will continue to rise – Based on current trends, home prices are continuing to rise. Perhaps renters who can afford to be homeowners are taking the plunge now because of the stability homeownership provides when compared to renting. You probably won’t have to worry about the value of your property dropping anytime soon.
- Inventory will continue to be low – One thing we can credit the pandemic for is that people have a newfound desire for stability. Fewer people are willing to take risks. And homeowners, for the most part, are staying put unless they absolutely have to move.
This means fewer homeowners are looking to “trade up,” and that limits the housing inventory. If you do decide to sell, you’ll have much less competition than in previous years.
These are three home selling predictions that we think are likely to be accurate for 2021. If you are planning to sell your home, take these predictions into consideration when you list your property. For more professional home selling advice, be sure to contact us at Randy Lindsay today.