Here are four predictions for the real estate market in the U.S. in 2021 from CoreLogic’s Chief Economist. What is CoreLogic and why are their predictions important to consider?
Hi, I’m Jennifer Prestwich of the Prestwich Group of Madison and Company Properties and I’ve been selling real estate for 13 years in Adams and Broomfield Counties, Colorado. I live, eat, and breathe real estate.
I trust CoreLogic because CoreLogic is a leading provider of analytics of financial and property data to both the government and to businesses. In my opinion, their predictions hold their weight because they’re based on data and facts.
Prediction number one, we will continue to have low interest rates throughout 2021. They are at a record low right now and CoreLogic believes the Federal Reserve will continue to promote low interest rates throughout 2021. Right now, fixed rate 30 year mortgages are averaging about 2.7% nationwide, which is a record low. They forecast that interest rates for the year as a whole will be about 2.9% on average.
This will be the first year ever that 30 year fixed rate mortgages have averaged less than 3%. They also predict these low rates will continue into 2022.
Be sure to check out my YouTube channel for all four of the real estate predictions for 2021. And remember, life is too short not to love where you live. I’m Jennifer Prestwich of the Prestwich Group of Madison and Company Properties. I’m out here living the Denburbs life. and I want to help you do it too.