2021 North Texas Housing Market Will Be Stronger Than 2020

Share on facebook
Share on twitter
Share on linkedin

We will remember 2020 for many reasons – a global pandemic, social unrest, an economic downturn, and natural disasters, just to name a few. Many homeowners were forced to reevaluate their need in a home as they went through the challenges brought on by the health crisis. Experts are forecasting that 2021 is one in which we can be optimistic about North Texas Real Estate for four main reasons.

Residential Area

The Economy Is Projected to Do Great in 2021

The best way to describe this projection is that there is nothing ‘broken’ in the economy to be fixed… The Fed Signaled in 2020 that Low Rates Likely to Last Several Years. We expect the Fed to keep rates near zero at least through 2021. there was no obvious financial bubble driving excessive activity in any one economic sector when the pandemic hit… With Covid-19 cases surging again, it is understandably hard to look optimistically to the other side of this winter… Don’t let the near-term challenges distract from the economic stage being set for next four years.

Interest Rates Are Expected to Stay Low

In the latest projections from Freddie Mac, interest rates for a 30-year fixed-rate mortgage are expected to remain at or near 3% in 2021. These low rates will continue to make homes more affordable, driving demand for housing in 2021.

Home Sales Are Forecasted to Grow

When the economy is improving and the interest rates remain so low, homes are also expected to continue appreciating as more people buy in 2021. The home sales is expected to grow more than 2020, following a more normal seasonal trend and building momentum through the spring and sustaining the pace in the second half of the year.

Californians Are Relocating to North Texas

Large corporates are relocating to North Texas and creating new job opportunities. Their employees are relocating to North Texas as well. The thing that is causing an increase of demand and shortage of inventory.

Conclusions

Experts forecast that buyers and sellers are going to be active in 2021. If you’ve thought about buying or selling your home, now is the time to take advantage of this market. Let’s connect to take the first step toward your new home today.

You might also enjoy reading...

Bassel Mokabel

Bassel Mokabel

Real Estate Agent & REALTOR®

DHS Realty LLC

Frisco, Texas

(469) 514-8755

A Licensed Real Estate Agent and a REALTOR in Frisco Texas, Serving Dallas – Fort Worth and Surrounding Areas. Bassel is a trusted professional offering a variety of real estate services – Buyer’s Agent, Seller’s Agent, Listing Agent, First Time Home Buyer, Foreclosed Properties, Luxury Properties, New Construction, Relocation, and Rentals. Looking to buy or sell a home? Call Bassel for all your real estate needs.

Free Home Buyers Guide

Buyers Guide