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