What to Expect When You’re Moving: Real Estate Trends for Fall 2021
October 29, 2021
Many in the moving and real estate industry are asking one pressing question this fall: What’s your best guess on when will the real estate market crash again?
That answer is not something to easily predict, but there are several key indicators for what the fall 2021 real estate market will look like, particularly after such a wild year in 2020.
Trend #1: Home sales in the U.S. have decreased.
Closing out the summer, the housing market declined 2.0% in sales when comparing August 2021 to July of 2021. This is only a slight decrease, but still a good indicator that the crazy housing market of the past year might be starting to somewhat normalize.
Trend #2: Prices will continue to rise, but not at the same rate.
A high demand is still outpacing available inventory, but this trend is showing signs of slowing down, which is good news for potential homebuyers. Forbes magazine has predicted that we will see the typical “cooling-off period in the fall” housing that the market didn’t see in 2020.
Trend #3: More inventory is a relief to potential homebuyers.
In January of 2021, there was about 1.9 months of inventory available. Fast forward into June, and the inventory of homes for sale had bumped up to 2.6 months. Although this margin is still down significantly from past years, it’s a sign of a more balanced housing market — and that’s good news for buyers desperate to find a new home.
Trend #4: Crazy housing prices could be going away.
According to a national survey of more than 1,110 realtors through Homelight, realtors indicate that buyers can no longer handle outlandish prices of the past year. More buyers are backing out of purchases a few weeks after the contract is signed, another indicator that offers well over asking price might be slowing down.
Trend #5: Sellers aren’t as afraid of COVID anymore.
As the country returns to pre-pandemic slices of normalcy, sellers are warming up to the idea of listing their house. For this reason alone, finding that sellers don’t have as many concerns about putting their home on the market could bump up the housing inventory significantly in the coming months.
If you’re ready to sell your house, in the market for local movers, long-distance movers, or a full-service relocation, Beltmann is here to help you meet your moving needs and budget. Contact us today to learn more or get a free quote.
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