California Home Prices Expected To Stagnate As Sales Slow In 2021

LOS ANGELES , CA — California home price increases and sales are expected to slow in 2021, but the Los Angeles-based California Association of Realtors doesn’t forecast widespread price drops.

Despite the economic uncertainty caused by the pandemic, California home sales are expected to climb a modest 3.3% next years, and home prices will edge up 1.3%, the California Association of Realtors forecasted Tuesday. Low mortgages rates and pent-up demand are credited with propping up the market despite the pandemic slow-down. CAR leaders expect interest rates to continue to fall.

“An extremely favorable lending environment and a strong interest in homeownership will continue to motivate financially eligible buyers to enter the market,” said CAR President Jeanne Radsick, a Realtor in Bakersfield. “While the economy is expected to improve and interest rates will stay near historical lows, housing supply constraints will continue to be an issue next year and may put

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Home prices keep rising in Saroasta-Manatee, but slow down looming

John Hielscher
 
| Sarasota Herald-Tribune

Despite the shock of the coronavirus pandemic, home prices continue to climb in Southwest Florida.

But that rate of growth is lagging behind the gains seen in Florida and nationwide.

Home prices in the Sarasota-Manatee region rose 4.8% over the year in August, trailing increases of 5.3% in Florida and 5.9% throughout the U.S., according to a report on Tuesday from real estate database CoreLogic.

The two-county region ranked 159th lowest for price growth among the 403 U.S. metros studied.

More: THE MONEY MINDERS: Sarasota-Manatee homeowners gain nearly $10,000 in property value

More: Home prices climb as sales accelerate in Sarasota-Manatee

While some expected home price gains to stall during the pandemic, they have continued to show resilience. CoreLogic had earlier projected that the Sarasota-Manatee region faced a 90% chance of falling prices over the next year.

But the tight inventory of local homes for

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The Slow Beginnings Of Revival

New York real estate is waking up! The slow beginnings of revival have characterized the third quarter of New York City’s 2020 real estate market. The city opened up for showings in late June, and through July, August, and September momentum gradually gathered. COVID-19 shut down our business entirely from mid-March until the last week of June, essentially eradicating the second quarter and the spring market: by order of the Governor, property could not be shown. During those months, our city became the world epicenter for the coronavirus. Then, owing to the extreme measures taken by the state government to keep people at home and properly masked when they ventured out, the infection rate abated, leaving the city with a low virus caseload.

The very things which people love about New York, its

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