Price growth will be powered by strong demand, a recovering economy, and low mortgage rates. Strong buyer demand and a lagging supply will cause the price to rise continuously but at a slower pace than 2020. Mortgage rates are expected to rise by 3.4% creating a barrier for entry for first-time buyers. Each and every sector shifted its office operations to home because of the work from home policy. More demand for space is increasing the demand for new houses, figuratively 7%.
Visit Dealty.