February 2021

The 2021 Housing Market Blast Off

Steady mortgage rates, a recovering economy, the work from home trend continuing and the law of supply and demand all point to a crazy 2021 for residential real estate sales. Buyers are anxiously awaiting the spring inventory to hit the market as there are many more buyers than sellers of homes right now. Sellers, do not wait until spring to list your home!! With buyers accustomed to searching and even buying on-line during the lockdown, the traditional seasons of selling are gone. Buyers are swarming the web to buy immediately.

Many real estate prognosticators believe that the rise of remote workers with flexible schedules will keep home sales booming in 2021. If a Seller prices their home correctly with the help of a local real estate broker, the home will sell in 2021!!
National Housing Market Predictions for 2021

Existing Homes Sales                  Up 9%
Newly Built Home Sales               Up 21%
Home Prices                                 Up 8%
Mortgage Rates                            @3%
Inventory of Homes                       Down 22%

Buyer traffic in the local market is robust. North Carolina is one of the in-bound states where buyer demand is considered “red hot.” Home inventory in North Carolina is down statewide as it is locally. Buyers must act quickly if a home checks the majority of their boxes.

Housing predictions only give a general view of setting expectations. Only your personal situation and finances should dictate your decision to sell or buy. However, don’t be left behind in the blast off for home sales this year if you are either a seller or a buyer. The local market is up 68% in volume and 72% in unit sales over this time last year. May 2021 be a positive year in many arenas for you and your family!! Thank you for your support of this wonderful community which continues to prove its strength and fellowship during the struggles of COVID.

Highlands Sotheby’s International Realty is the top producing firm in Highlands for the seventh year in a row with 30 brokers spanning the Plateau to assist you with your real estate needs. The company sold over a quarter of a billion dollars in real estate in 2020, per Highlands/Cashiers Multiple Listing Service. We are closers! Call us to get you over the finish line this year at 828.526.8300 or 828.526.4104.

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