The coronavirus pandemic has dealt a severe blow to the world’s economy, the US real estate segment being among the fields that have been seriously affected. Given the current situation, it is certainly hard to make accurate predictions about how the real estate sector will evolve in 2021, but experts have identified some trends, nevertheless:
- Increased competitiveness – as millennials are reaching the age when they start looking for a home of their own, the generation is going to be driving the market by setting high standards on the demand side;
- Increased prices – the median home price is rising very quickly, the forecasted increase being extremely quick for the rest of the year as well;
- Shorter selling times – sellers can expect to be able to sell their properties much faster than in the past. Knowledgeable single family home rental companies affirm that the demand is high and increasing, which also means that supply is going to become short soon;
- Best-selling periods – the periods when market activity is going to reach peak levels are the same as in any year. The first peak of the year is expected around March and April, with more buyers looking for suitable properties that they can move in by the beginning or the middle of the summer.