We’re off to a great start this year! 2021 is upon us now and in full swing! Have you thought about what’s in store for us this year?
Here are my bold real estate market predictions for this year:
- Home prices will continue to rise in central Texas and across the nation.
- The low inventory challenge will continue this year.
- Technology will be a bigger factor in the real estate business from the way we communicate, to the way we showcase properties.
- A main reason housing inventory is low is because sellers can’t afford to move up. Home prices have gone up, but salaries have not kept up.
- Buyers are moving away from Metro areas and looking for more space with bigger lots and more square footage.
- Every house listed will sell in 2021! Unless it is overpriced. On average, there are about 2,300 houses available in Austin for sale. Currently 60% of them have been on the market 30+ days. Shows that even in a sellers’ market overpriced house will not sell! It’s better to list right and have multiple buyers bring up the price rather than price high and hope you find one buyer willing to pay that.
- Interest rates will continue to stay low.
- There will be more non-producing realtors exiting the real estate business. The real estate business is hard for the unskilled agent and the producing agents vs non-producing agents gap will widen even more.
Even with these predictions, I greatly appreciate and thrive on referrals! If you have any questions regarding the market predictions, please call or email me anytime.