Housing Market Crash in 2021 is Highly Unlikely
With the real estate market experiencing surging prices, scant inventories, and a backlog of new home construction, many consumers are wondering if what’s gone up must come back down — in other words, are we headed for another housing market crash? Let’s take a closer look.
Last week, economists at Fannie Mae, Freddie Mac, the Mortgage Bankers Association, and the National Association of Realtors forecast median prices will rise between 3 to 8% over the course of 2021, a significant drop from 2020 but nothing like the crash in prices seen in the last housing crash of 2008.
Are you active in the market looking for a Bucks County home to buy or sell? More than ever, you need expert, professional representation. Before you list your home for sale, call The John McClintock Team at 267‑759‑9518 for no obligation recommendations on dealing with bids, realistic prices and precise timing.