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The National Buyers Agent Association has released a new report for homebuyers on real estate market trends and forecasts for 2021. The report guides homebuyers on what to expect with the real estate market in the coming year after the low-inventory real estate market of 2020.
A summary of the guide can be read here: https://buyeragentsearch.com/real-estate-market-trends-in-2021/
The year 2020 for real estate has really been challenging and difficult for most real estate professionals. The pandemic affected every business across the country and even the entire world. Many wonder what will happen in the real estate market in 2021. As Covid-19 still goes on, no one is certain about what the real estate market trend in the coming year will actually look like, except that the housing shortage has a momentum of its own that will not see a quick turnaround. Nevertheless, the report looks at what the association has observed, and included some real estate expert forecasts and predictions as a guide for homebuyers.
The real estate market did take a brief pause in the early spring around March of 2020 due to the aggravated spread of the pandemic. With showings and sales being widely paused, the industry found ways to carry on with business rather quickly. In many states, real estate was considered an essential service. Although many first time homebuyers are still hesitant and intimidated about moving, for others, it is a good time to start a home search. Many households are stuck at home with only a computer internet connection to the outside world.
As the number of COVID 19 infections continue to grow, home buyers are choosing to flee cities and move to not-so-crowded areas like the suburbs or rural areas. The association manager, Kathleen Chiras, said “We are getting more and more requests for buyers agents who can show rural properties, and properties with an extra room for office space”. Real estate professionals have reported a rise in remote work which is one of the reasons people are moving in.
As real estate market searches became easier with helpful online real estate portals like Zoom, and For Sale By Owner Sites, it also proved to have other challenges. Housing prices continued to rise throughout 2020 in most areas of the United States, and internet browsers saw their favorite picks go under contract in just a few days. A low inventory of homes continues into 2021. Home buyers are advised to take actions as fast as they prudently can due to strong competition homes for sale, especially those under $500,000. Many people report that houses are gone in a span of two weeks after listing.
Home buyer guidance is provided by Skyfor’s National Buyer Agents Association. The service has members in all major cities in the United states and many rural areas as well. A list of real estate professionals who specialize in buyer agency can be found here: https://buyeragentsearch.com/associations-and-real-estate-agents/. This free list of agents is available 7 days/week and live staff are available to discuss specific questions by calling their office at 800-383-7188.
Skyfor also manages the non-profit association for buyers seeking to buy in Colorado. This state group is the Colorado Exclusive Buyer Agents Association. Those who visit https://HomeBuyersColorado.org will see the many resources offered for those hoping to purchase in Colorado. The site also contains many home buying tips. The inquiry page provides instant access to a list of buyer agent specialists in Colorado, which is experiencing similar real estate market trends going into 2021 as the rest of the nation.
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