Housing Predictions for 2021

Here are some real estate predictions for 2021:

• A Seller's Market seems likely to continue in the near future

• The buyer pool remains robust and competition will generate multiple offers, shorter days on market and favorable terms for the seller

• Mortgage rates will remain at record lows but cost of ownership will continue to rise as buyers pay more for their home

• The steep incline in home prices will start to level out and sellers will probably not see the huge sales prices that were seen in the latter half of 2020

• Suburbs and smaller towns will continue to remain popular as companies adapt to "work from home" environments

Here are some California market predictions by metro areas for Price Growth Percentages:

• Bakersfield - 3.7%

• Fresno - 8.5%

• Los Angeles & surrounding - 7.3%

• Sacramento - 7.4%

• San Diego - 5.5%

• San Francisco - 9.4%

• San Jose - 10.8%

Source: Realtor.com December 2, 2020 2021 Housing Market Forecast & Predictions