The real estate market in 2021

The real estate market in 2021

Happy New Year! Looking for a quick digest of what’s happening in real estate right now? We’ve got you covered:

National News

+ 27 experts give their take on what the housing market will be like in 2021. Hint… most think prices will continue to climb.

+ Across the country, Generation Z will spending roughly $226,000 on rent before they can own a home, more than any previous generation. In Denver, this number balloons to $320,300. Time to capitalize on low interest rates, if you can!

+ The Case-Shiller U.S. National Home Price Index is showing that home prices have risen 8.4% in the last year, nationwide.

Local News

+ Renofi is projecting that the average price of a home in Colorado will reach $763,309 by 2030, making us the 4th most expensive state after California, Hawaii, and Washington.

+ Denver ranks 8th in cities with the highest inflow of new residents during the pandemic.

+ Local restaurant owner Josh Wolkon shares how you can help save local restaurants.

Financial News

+ Mortgage rates continue to remain near record lows at 2.67%, down from 3.72% a year ago.

+ Not looking to move, but wondering if it’s worthwhile to refinance? Check out Nerd Wallet’s refinance calculator to find how much you can save each month.

+ Forbearances rose for the third consecutive week, as roughly 2.83 million homeowners are currently suspending mortgage payments. Fannie and Freddie announced that multifamily property owners with existing forbearance agreements can extend their agreements for up to three months.

Have questions about what’s happening in real estate in your neighborhood? Let’s chat!

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