January 2021 Real Estate News
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Happy New Year, everyone! In this month’s January 2021 Real Estate News read more about the continuing rise in home prices and a 27% increase in home sales, as well as how to be prepared for a buyer’s home inspection. Also in this issue, reasons to refinance your home while rates are so low and four great features for a stay-at-home lifestyle. We also include tips on how to keep you on track with your New Years resolutions. All of this and more in the January 2021 Real Estate News.
Prices Rise; Home Sales Climb Almost 27% Higher Than Last Year
For the past five consecutive months, existing-home sales have risen month over month, according to the National Association of Realtors (NAR). In October, sales climbed 4.3% from September and 26.6% from October 2019. Of all the homes sold in October, 72%—or seven out of every 10—remained on the market for less than 30 days.
Home Sales Expected to Climb in 2021
Economists with NAR predict that existing-home sales will continue to climb throughout 2021 to six million, a 10% increase. According to Lawrence Yun, chief economist for NAR, the rapid increase in sales over the past few months has more than compensated for the loss of sales in the spring. “With news that a COVID-19 vaccine will soon be available, and with mortgage rates projected to hover around 3% in 2021,” Yun said, “I expect the market’s growth to continue into 2021.”
January 2021 Real Estate News
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Marina Jacobson
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