Housing-2021

Real estate agents across the U.S. have been busy as a result of the pent-up demand from homebuyers due to COVID-19. From facing uncertainty in March from COVID-19-related shutdowns, to seeing home sales skyrocket through the summer into fall, it looks like homebuyers won’t be slowing down anytime soon, despite the holiday season approaching.

Fannie Mae Chief Economist Doug Duncan said he expects existing home sales in to ultimately “be up a percent or more in 2021. The new home sales numbers had a big jump in 2020, and [there will be] more growth in 2021, but they’re going to have to rebuild that inventory, because anything that the builders are building today gets sold. So they’re working hard to try to build inventory.”

Typically, homebuyers slow down around August, when children are back in school and vacations end. But now, as schools have pursued virtual learning, vacation towns and luxury destinations have become part of the housing market boom as families are working and schooling from home and desire more space not available in the city.

The rest of this content is for HW+ members. Join today with an HW+ Membership! Already a member? log in


HW+ includes weekly long-form digital content, HousingWire Magazine, access to HousingStack, and free admission to all HousingWire virtual events.


Get $75 off your initial membership with coupon code “intro75”.

IDX Real Estate