The National Association of Realtors recently reported:
“Lawrence Yun, NAR’s chief economist, predicts a favorable outlook for the housing market in the coming year. According to his 2021 projections, there will be a slight upward rise in mortgage rates to around 3% from the current 2.7% rate. Existing-home sales are expected to increase roughly 10% and new home sales by 20% next year.”
That prediction compiles national data from all states; Texas numbers may be different.
Real estate is hyper-local. We see differences from city to city, neighborhood to neighborhood, and even among price points. For example, single-family homes in the $325,000 – $350,000 price range might sell quicker than homes priced at $750,000 and higher. A single-family home in Spring, Texas, may fetch a different price than a similar home in Houston or Katy. We also see different amenities and lifestyle options, depending on the location.
Real estate is hyper-personal. You may prefer the suburbs with more square footage and a larger lot size, or you might choose city life in the heart of downtown Houston or something in between.
Real estate is a tool for wealth. You may consider real estate a stable way to build wealth and wonder if now is still a good time to buy.
Each family we work with has their own goals and needs when it comes to where they will live, work, play, shelter, and learn (and we hope to experience less sheltering and more playing in 2021!).
This is why we pay attention. First, we pay close attention during our consultation, and we will continue to ask questions as we work together so you will be successful. We also pay close attention to the national market and the local market, so we can help you spot the best homes and investments and be aware of trends.