The New Year has finally arrived and none too soon! Collectively we have experienced one of the most challenging times in our history. But a New Year always brings with it new hope and optimism for better things to come.
I anticipate that many of the underlying trends in real estate will prevail in 2021. Extreme shortage of inventory, record low interest rates and the new work-from-home economy are with us for the forseable future.
It’s also unlikely that distressed homeowners will default en mass as lenders are keen to avoid another episode like 2007-2012. A growing trend of flight to surburban neighborhoods will also increase demand for single family homes.
While no one can predict the future, I am confident that 2021 will be a year of strength and recovery. Wishing you and your family health and happiness in this new year!