US Housing Market Forecast 2021: Will Sales or Prices Crash?
Here are the latest housing market predictions for 2021 & 2022. The global pandemic shattered the world order and the US economy suffered its biggest blow since the Great Depression in the second quarter. It has been roughly one year when it put the housing market on hold for several months last spring.
But the US housing market continues to be a pillar of support for the economy. Even with rising mortgage rates and higher prices, economists say the market should remain strong due to very tight inventories and increasing demand as more millennials are projected to buy houses this year. Now millennials make up the largest share of homebuyers in the US, according to a 2020 survey from the NAR.
Source: Norada Real Estate Investments