Even as the pandemic nears its end, its impact on the way we work and live will in many ways be permanent, and Americans will migrate to homes that fit their new lifestyles.
We already saw much of this movement in 2020, as home sales surged over 20% this fall, but many homeowners were nervous about listing during the pandemic and will be ready to sell in droves next year. This will send home sales to highs not seen since before the Great Recession of 2008.
In 2021, migration will continue to set records as more than 30% of homebuyers will look to leave their current metro area. The normalization of remote work means that Americans will continue to move to suburban and rural areas, or decide to move to cities that fit their personal preferences instead of just their careers.
HW+ includes weekly long-form digital content, HousingWire Magazine, access to HousingStack, and free admission to all HousingWire virtual events.
Get $75 off your initial membership with coupon code “intro75”.
The post 2021 housing market forecast: What will fuel home sales? appeared first on HousingWire.