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The 2021 housing market will be stronger than 2020

Housing Wire

This is the fourth installment of our economist Q&A series, as we work to answer the top 2021 housing market questions. The 2021 housing market forecasts have focused on everything from home prices to mortgage rates. Jeff Tucker Zillow Senior Economist. This article has been lightly edited for length and clarity.

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Here are 2020’s hottest housing markets according to ZIP code

Housing Wire

Compared to last year , the housing market this year has seen some big changes. Realtor.com released its hottest ZIP codes of 2020 report on Tuesday, which revealed that more towns in the Northeast made the list than last year. Realtor.com noted that these prices were 15% cheaper than their surrounding metros, on average.

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The downside of the hot 2020 housing market: rapid home-price growth

Housing Wire

Demand for housing was strong in early 2020, before the COVID-19 crisis hit. Mandated shut-down measures and the fear of what COVID would do to our economy temporarily immobilized the housing market, evinced by nine weeks of declines in the weekly purchase applications data on a year-over-year basis.

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The housing market is now savagely unhealthy

Housing Wire

Total inventory data is deficient, and this was my biggest fear in the years 2020-2024, and it happened. Inventory has been slowly falling since 2014, so if demand picks up in 2020-2024, it can collapse to shallow levels. I thought creating the term forbearance crash bros in the Summer of 2020 would help educate homebuyers.

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Housing Market Tracker: Inventory finally rises

Housing Wire

Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. In 2022, home sales collapsed in a waterfall fashion.

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How Delta variant may impact housing market

Housing Wire

The following Q&A comes from the HW+ exclusive Slack channel, where HousingWire’s Lead Analyst Logan Mohtashami answered questions on what to make of the latest housing data, his forecast for the rest of this year, and whether or not the housing market is returning to normal. This was my big fear. Become a member today.

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What’s next for the overheated housing market?

Housing Wire

Because March 2020 sales were slightly weaker due to the start of COVID-19, the year-over-year growth in sales for March 2021 came in at 12.3%. For the housing market, the COVID crisis started in earnest the week of March 23, as that is the last week we saw positive year-over-year data in 2020 before COVID-19 really took us for a ride.