After the rollercoaster ride of 2020, the housing market in the USA has taken a bit of a beating – and what was supposed to be a fairly positive and exciting time in the industry was turned upside down. So, what can you expect from 2021? And will this be the right time to sell your home in Dallas? Read our cash for houses Dallas team’s property forecasts for the year ahead.
Forecast #1 – Home Prices are Going to Keep Increasing
In some good news for sellers, home prices are set to keep increasing through 2021 in almost all cities in the USA. In fact, in 2020, house prices increased by 5.8%, so the current prediction is that house prices will continue to go up by about 7% between now and next fall. This seller’s market is supported by interest rates remaining low, with mortgage rates sticking around 3% and the Federal Reserve signaling that it’s policy rate will stay low until inflation starts to pick up. This will take considerable pressure off buyers, creating a surge of demand for mortgages and property, which is great if you want to sell your home.
You can get a general idea of how this applies to your home using the Zillow home value index calculator.
Forecast #2 – Inventory Will Remain Limited
In the USA, housing on the market has remained limited and decreased over 2020 by 38% year-on-year, with people choosing to delay big life decisions like house moves during the pandemic. However, this is a trend that extended to times before COVID-19, and is set to stay for the foreseeable future.
There are a few reasons for this, from sellers feeling that the market and their lives are just too uncertain at this time to make selling a viable option, to people wanting to wait as long as possible in their current home to take advantage of the increasing price of property in order to get the best possible offers.
Forecast #3 – We’ll See a Return to Seasonality
In past years, the housing market follows seasonal patterns, with the majority of sales happening in the spring and summer, and a quiet season over the fall and winter. Of course, that all changed dramatically in 2020 as stay-at-home orders, COVID-19 risks and general uncertainty threw all carefully considered plans and market trends into chaos. In 2021, we expect to a return to more “normal” homebuying seasons, especially as vaccinations roll out.
Forecast #4 – Millennials Will Dominate the Market
Millennials are set to become the most dominant buyers in the housing market as they reach the 25-40 age segment. Older millennials will be interested in moving on to their second property, including larger family homes, holiday homes, investment properties and more expensive housing in more desirable neighborhoods, while younger Millennials will be taking advantage of the low interest rates to get their foot in the door with their first apartments, starter homes and investment properties.
Forecast #5 – We’ll See Increased Suburban Migration
With remote working becoming more normal and 2020 having shown many people the struggle of experiencing a lockdown in a small, urban property, many buyers are set to move to the suburbs. Seeking work from home offices, fresh air and space to spread out, buyers are more willing to make a commute to the office in order to experience the benefits of suburban lifestyles.
Looking for an Easy Way to Sell Your Property? Choose Cash House Buyers in Dallas and Sell Your Home Fast
Looking for the fastest way to sell your home? Buyer backed out at the last moment? Don’t want to spend your hard-earned money on repairs? Simply sell your property directly to cash house buyers in Dallas!
If you want to want to sell your home quickly, our cash for houses Dallas team is happy to buy it for a market-related price – sight unseen and no upgrades needed. It’s completely COVID-safe because we don’t need to visit your house for viewings, and you can sell your house in 24 hours. Here’s how our process works:
- You enter your information on our website
- We’ll contact you directly to discuss an offer for your property (you can also get a free property evaluation from our website)
- You can accept or reject the offer
- You can also call us directly on 469-858-0088
You can also download our FREE eBook for more information on how to sell your house in 24 hours.
Our team is compassionate and highly-motivated to offer you the best possible market-related price for your house, so you can sell your home in 24 hours. Not only does this cash go straight into your bank account as soon as the sale goes through, you also pay zero real estate agent commission. It’s all about making selling your house as fast and as rewarding as possible!
At Shiny Key Properties, our trained consultants have years of experience in helping houseowners to sell quickly. To find out more about our cash for houses Dallas service or to speak to our cash house buyers directly, please contact us today and speak to one of our friendly team members.