National Housing Market Update! January 2021 Real Estate Market Predictions

National Housing Market Update! January 2021

what can we expect for the 2021 real

estate market and what’s happening now

i know it’s hard to tell with everything

that we have going on and i get it

we’ve had so many different markets over

the past 20 years

and i’m gonna say it this is the most

unprecedented and unfamiliar market

ever

hi this is Tanja Odzak-Goppold and i’m a

top producing realtor here in oakland in

the greater east bay area

if you look at the housing market

recovery index and here’s a graphic from

realtor.com you can see a v-market

which was just as expected back

in march when the pandemic started

the housing market has since recovered

and is in fact looking even better

than when the pandemic first started

back in march we were at 106.5

and now we’re at 112.8 yes there was a

definite dip when the pandemic first

started but now as you can see here the

market dipped

and then took a strong and steady rise

and now we’re stronger than back in

march

this analysis measures four things

1 – the first is demand of homes which is

the number of buyers out there looking

to buy a house

2- second is the supply of homes how many houses

are for sale out there

3- third is pricing which is our price is

going up or down and

4-fourthbis the length of time on the market how

long does it take before a house sells

inventory and interest rates are in my

opinion some of the strongest indicators

of why we’re seeing such an increase

in housing market activity

there’s ablack of supply

and a strong demand because interest

rates are at an all-time

low also if you look at the number of

active forbearances (and just

as a reminder forbearance is the

deferment of mortgage payments)

the number of active forbearances has

been declining almost each month

also if we look at when homeowners

exited their forbearance plan

we’ll see that 54.6% were paid in full

30.7% are still working out their payment

plans

and 14.7% are still in trouble the thing

to be concerned about is that 14.7%

because that could very well turn into a

short sale or foreclosure

however the market is still hot and

buyers are still active!!!

this is Tanja Odzak-Goppold with Keller Williams

If you’re thinking of selling or buying in

the Oakland or East Bay Area

feel free to reach out even if you’ve

got just questions,

i’m here to help putting people before profits

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