Breaking down 2021 housing market forecasts
December 7, 2020
Subscribe
In today’s HousingWire Daily episode, HW+ Managing Editor Brena Nath joins Magazine Editor Kelsey Ramirez to discuss the most compelling articles reported from the HousingWire newsroom. Brena and Kelsey review HousingWire Magazine’s latest issue, which features several 2021 economic housing market forecasts. The issue, which is part of HW+ Premium Content, also highlights what the HousingWire editorial team believes could happen for each sector of the housing industry in next year’s market.
For some background on the interview, here’s a brief summary of a recent HousingWire article on the 2021 housing market forecast:
As we look ahead to 2021, we remember that this year, the housing market has continued to remain a bright spot in the economy, even as other areas continue to struggle amid stay-at-home orders and economic shutdowns.
COVID-19 threw the economy for a loop in 2020. In fact, this year seemed to prove anything is possible. From wildfires to hurricanes, the pandemic to murder hornets and a deeply divisive political campaigning season that drove record-setting voter turnout, 2020 did everything but follow its original forecasts.
2020 started a new decade, and at the end of last year, forecasters and economists saw the biggest trends being the growth of mergers and acquisitions, an expansion of the broker community and increased fintech.
Many experts, including the Mortgage Bankers Association, pondered the possibilities of a recession, saying it was absolutely a possibility. But they never could have guessed that recession would be due to COVID-19.
Fannie Mae said housing would help fuel economic growth in 2020, while Freddie Mac said mortgage rates would stay low, and those have certainly been true.
Now, economists are focusing their sights on 2021, and forecasts are more difficult than ever to create. What will happen with COVID-19? Will we have a vaccine? How will the government at state and federal levels handle the virus and the economy over the next several months or even the next year?
HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.
HousingWire articles covered in this episode:
