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