Though many of us don’t like to admit it, humans are meant to adapt. In 2020, we experienced something no one ever saw coming, but we rose and continued to combat the challenges together. We are witnessing a market like never before with mortgage rates at an all-time low, prices on the rise, and homes in demand more than ever before.
Here are some 2021 predictions we are hearing:
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Robust economic growth in the 4-5% range (The Fed predicts 4.2%)
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Morgan Stanley forecasts 5.9%
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Bank of America predicts 11%
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An 8% gain in average sales price nationally (National Association of Realtors)
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Mortgage rates to remain historically low all year, at roughly 3%
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Contra Costa County home values are up 7.6% over the past year and are forecasted to rise 10.2% in the next twelve months.
The time is now to embrace what this market has to offer!
Joujou Chawla
The Chawla Real Estate Team
