<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1955936548054264&amp;ev=PageView&amp;noscript=1">
All Posts

With 2021 now in full force, we are seeing the housing market continue to thrive on a national level. And by the end of the year, the homeownership rate is expected to rise above 69% for the first time in over 15 years. So, if you have been thinking about buying or selling a home, here is what to expect in 2021:

  • Positives for sellers: Inventory will remain low which helps homes sell fast. In fact, most homes hitting the market will sell in an average of 21 days (or faster in some areas of the United States). Equity is high which is great if you’re looking to move into a larger home for more space.
  • Positives for buyers: Interest rates will remain low so you can get more house for your money which helps with home affordability.

I Want to Know How Much House I Can Afford

 

Inventory Remains Low- Now What?

When inventory is low (i.e. there are more buyers entering the housing market than there are homes for sale) you need to get a competitive edge over other home buyers.

How do you get a competitive edge? We can help! Now you can take control, stand out among other buyers and close faster with the Churchill’s Certified Home Buyer and Rate Secured programs. If you are serious about buying home in the next three months and don’t have an all-cash offer (a very small percentage of buyer actually pay with cash), your best bet is to become a Churchill Certified Home Buyer and secure your interest rate today to help you save thousands.

There are no fees for either of these programs, so you have nothing to lose. In fact, you’ll likely save both time and money!

By becoming certified and secured during your home search, you can:

  • Submit your offer with the ultimate confidence
  • Win the bidding war in a multiple-offer situation
  • Eliminate the worry of possible interest rate increases
  • Close faster and move into your new home sooner

Download Your Free Compete with Cash Offers eBook

 

The Suburban Shift Will Continue

Housing market analysts are expecting the shift from urban to suburban areas (and even rural in some parts of the U.S.) to continue in 2021. Remote work is still very much in the mix for employers which allows people to leave the high dollar city life for a more affordable home in the ‘burbs. Home builders are flocking to these suburbs as buyers continue to prioritize larger homes, home offices, and outdoor space. If you are interested in living in a more urban area (or nearby), you may be able to get a great deal. Check out the top 7 hottest housing markets in the U.S.

The Top Housing Markets in 2021:

  1. Austin, Texas: There is a lot of affordable land options outside of the Austin. Another positive aspect of this area is the impact of big businesses (Oracle is located here, Elon Musk is building a factory and looking to possibly move Tesla’s headquarters here, and Apple is expanding their campus). Austin was also ranked as the hottest place to live last year.

    Austin TX blog
  2. Phoenix, Arizona: There is plenty of room for growth in Phoenix and the freeway systems make it easy to get around (which is a bonus for any city). With nearly 300 sunny days a year, it's easy to see the bright side of things in this beautiful city! ☀️

    Phoenix AZ blog
  3. Nashville, Tennessee: No state income tax and one of the nation’s lowest tax burdens in the Nashville area has helped drive people to Nashville and its surrounding areas. Many corporate headquarters (i.e. Nissan North America, Bridgestone Americas, Dollar General, and Amazon) call Middle Tennessee home.

    Nash Tenn Blog
  4. Tampa, Florida: Lots of sunshine and warm weather are driving factors for the Tampa area. The state is expecting record population growth over the next 10 years or so. It also helps that Tampa is a deep water protected port with easy city access to almost anywhere!

    Tampa Florida Compressed
  5. Atlanta, Georgia: There’s new construction once you reach the deep suburbs of Atlanta which is great for those looking to not live in the city. The weather is great, beautiful lakes and year-round golf add to the appeal of this area.

    Atlanta Golf Compressed
  6. Denver, Colorado: Despite what you may think about the weather here, it’s a sunny location with an amazing outdoor lifestyle for people who like to ski, hike, bike, or fish. It’s very accessible with public transportation from the airport and around the city. A lot of startup tech companies are moving into the area which helps with local jobs.

    Denver Colorado Compressed
  7. Dallas, Texas: Job diversity is prime here—tech, financial services, medical, defense, and oil and gas. Amazon has a big plant in the area, and Toyota and American Airlines call Dallas home.

    Dallas TX Blog

Connect with a Home Loan Specialist

 

So, if the top locations are in Texas, Arizona, Tennessee, Florida, Georgia, and Colorado, where are people moving from? Here’s the top 3 places where people are moving from.

The Least Popular Housing Markets in 2021:

  1. New York, New York
  2. San Francisco, California
  3. Los Angeles, California

 

Seasonality Makes a Return

Last year, everything “normal” was tossed out the window due to the coronavirus pandemic. The stay-at-home orders halted the process of buying and selling homes in the U.S. during a time that is typically the most popular for listing a house on the market.

Once the country began to reopen, there was an uneven return of buyers and sellers which created a housing inventory nightmare. This trend continued into the autumn months which is usually a time that favors home buyers over sellers.

We’re expecting the traditional seasonality of home buying and selling to return in 2021. We’ve recently kicked-off the season (the first week after Super Bowl Sunday) and the traditional peak should occur in June and July; this should help bring some regularity to the housing market once again.

Bottom Line: What to Expect this Year

  • Interest rates will continue to stay low but could slightly edge up as the coronavirus pandemic fades and vaccines become more readily available.
  • Demand for homes will continue to stay high and bidding wars will become more common as seasonality returns.
  • Home prices will continue to rise but at a slower pace than in years’ past.
  • Housing inventory will still be tight but will start to rebound giving some relief to home buyers.

 

Sources:

https://www.realtor.com/research/2021-national-housing-forecast/
*The Churchill Certified Home Buyer program is not a commitment to lend funds and is not an approval but is a conditional approval subject to your acceptance of the terms and the conditions being fully satisfied prior to closing. All conditions are subject to final underwriting and final investor approval. The certification is subject to the financial status and credit report(s) of everyone on the application remaining substantially the same until closing, an acceptable contract of sale on a suitable property, collateral (the appraisal, title, survey, condition, and insurance) satisfies the requirements of the lender and loan selected is still available in the market. All closing conditions of the lender must be satisfied including the clear transfer of the title, acceptable and adequate title and hazard insurance, flood certification, and any inspections that are required by the real estate contract.
*In the initial 90-day period, Rate Secured is available on 30-year conventional conforming loans and high-balance fixed-rate loans. It is not available on investment property home loans or no score (zero credit score) loans. The Certified Home Buyer and Rate Secured programs are not available at all locations.

Connect with a Mortgage Expert!

 
 
 
 
Please Enter a Name
Please Enter a Last Name
Please Enter a Valid Email Address
Please Select a State
Please Enter a Valid Phone Number

Thank You!

We have received your request, and are matching you with a Home Loan Specialist. You will hear from us shortly!

You can also get in contact with us at 888-562-6200.

By submitting this form, I/we agree to your Privacy Policy Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive text messages sent by an automatic telephone dialing system. Consent to these terms is not a condition of purchase.

Connect with a Mortgage Expert!

With so much of your hard-earned money on the line, seek advice from a trusted home loan expert and have the confidence that you are in qualified hands.

social proof logos

Related Posts

5 Ways to Invest in Your New Home on a Budget

Buying a home is one of the biggest and most worthwhile investments you will ever make. But the purchase ...
Churchill Mortgage Jul 28, 2021 11:29:35 AM

Is it Smart to Waive Contingencies When Buying a Home?

We get it … you want a house and are willing to do just about anything to make your offer stand out. But ...
Churchill Mortgage Jul 12, 2021 10:09:57 AM

Win a Bidding War & Get the House You Really Want

The amount of available homes on the market is down about 40% compared to last year.* This inventory shor...
Churchill Mortgage May 25, 2021 8:07:16 AM