The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Real Estate

2021 housing market outlook: No signs of slowing

After a banner year for the housing market in 2020, expect next year to be even stronger

house-row-HW

2020 has been a remarkably strong year for the housing market. Sales volume has remained elevated compared to last year since about mid-June, home values are growing more quickly than they have in 15 years and homes are typically selling a full three weeks faster than a year ago. 

Incredibly, next year’s housing market outlook is poised to be much stronger. 

We are on pace to see 5.66 million homes sold in 2020, a solid 6% growth over 2019. The market should shatter that pace in 2021, potentially hitting 6.9 million homes sold – 21.8% annual growth – in what’s likely to be the strongest year for sales since the Great Recession. And given the expected volume of sales and likely improvement in the economy, year-over-year home value growth reaching 10.3% – the first time in double digits since 2006 – isn’t out of the question.

Driving the bullish housing market outlook is the current strength of the market, which has blown past the usual seasonal slowdown and shown no signs of cooling off this winter, demographic tailwinds, expectations for continued low mortgage rates (though they’ll likely rise from today’s near-record lows) and increased adoption of real estate technology that makes connections between buyers and sellers faster and easier. 

Elevated housing market demand appears to be here to stay

Price gains are being driven by the fundamentals of supply and demand. The bill for years of underbuilding since the Great Recession is coming due as a wave of Millennials entering their mid-30s are in the market for their first home, many of which have likely accelerated their timeline due to the pandemic. These first-time buyers put especially acute demand pressures on the market because they do not have an existing home to turn around and sell, thereby replenishing the supply of available homes. 

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    Most Popular Articles

    Ex-loanDepot COO: Tony Hsieh cut corners to boost volume

    The suit, filed by former COO Tammy Richards, accuses loanDepot CEO Anthony Hsieh of ordering the sales team to “trust [their] borrowers” and close loans, disregarding proper underwriting etiquette. 

    Sep 23, 2021 By and

    Latest Articles

    New home sales rise for second consecutive month

    Regionally, on a year-to-date basis, new home sales fell 1.0% in the Northeast and 2.3% in the West, but rose 4.4% in the Midwest and 4.5% in the South.

    Sep 24, 2021 By
    3d rendering of a row of luxury townhouses along a street

    Log In

    Forgot Password?

    Don't have an account? Please