The housing market in 2020 has been surprisingly resilient. Though coronavirus-mitigation efforts stalled what was forecast to be a strong spring, the market came back quickly and its hot summer carried into fall. But can the real-estate market continue its current pace in 2021? Well, according to the most recent outlook from Fannie Mae’s Economic and Strategic Research Group, the answer is mixed. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says they expect it’ll be a good year, if a bit slower. “We also expect housing to remain strong, despite slowing from its previously torrid pace, as home builders catch up on current commitments and more existing homeowners list their homes to take advantage of strong price growth,” Duncan said. “We expect the mortgage market to finish 2020 at a historic level of production before slowing slightly but remaining strong in 2021.” In other words, home buyers, sellers, and owners can expect similar, if slightly slower, conditions in the year ahead. (source)
