So we’re going to hop right in and get started with this March Housing Market Report. I’ll start out with this quote from Lawrence Yun, the Chief Economist at NAR. He says this… “Home sales could possibly reach 8 million if we had more inventory.” It’s the biggest challenge in the market out there, the lack of inventory. He continues to say, “Mortgage rates should remain very low throughout 2021, although we may have seen the lowest already.” Therefore, have we seen the lowest already? I’m not here to say that, however we’re certainly seeing mortgage rates creep up here in the beginning of March, and we’ll see what the future holds.
In a hurry? Here are the 3 most important takeaways you need to know right now:
1. Mortgage Rates
Mortgage rates have climbed over 3% for the first time since last July.
2. Pricing
2020 saw strong rates of home price appreciation across the country.
3. Equity
Rising home values have led to tremendous gains in equity.
Read all the details and download your complimentary Housing Market Update for March 2021 now. 👇
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