Stay Tuned! This is part 2 of a 3 part series laying out expectations for 2021.
- Let’s take a look at existing homes. The forecast is for sales this year to have risen by 3.9 percent, but sales in 2021 should be up by 6.9 percent, and that’s a level we haven’t seen since 2006.
- For sales to rise to this extent, we need more inventory, and we do expect to see more listings next year. And that will likely be, at least partially, due to COVID-19. With some household members’ new abilities to work from home, removing the need to live close to their offices.
- Although we see many homeowners moving due to work-from-home, we believe many of them will not move that far away. In my opinion, the theory that we will all be working from home full-time is likely overblown, and would contend that a lot of people will end up blending their workweek with some days at home and some days at their offices.