2020 Home Sales & 2021 Housing Predictions
As we round out 2020, home sales are booming in the Triangle. Extremely low mortgage rates are helping, even as new home construction permits seem to be shrinking.
Thanks to remote working conditions, it’s now possible for many people to live where they want without worrying about the commute. As the new year begins, some experts predict lower population density areas will gain even more attention from buyers.
There is, however, perhaps some uncertainty about future development. In 2021, buyers should be able to count on continued low mortgage rates, at least until the economy improves. Some are also predicting a broader selection of homes to choose from later in the year.
At the same time, there may be some higher costs and delivery delays tied to building materials. As even the housing market has adopted new trends in technology, some experts are also predicting “smart technology features” will be a big selling point for homes in the future.