As the longest and most difficult year for a lot of us comes to an end, we want to spend a bit of time looking ahead. With a new year comes a fresh start, a new leaf, the next chapter. Many view it as a time to make goals and resolutions and map out the year ahead. If 2020 taught us anything, it’s that we can’t predict everything that lies ahead. No one could have imagined what 2020 would have in store for us, so we won’t pretend that we have a crystal ball for what 2021 will look like. But, in terms of what we can expect in the Central Valley Real Estate market, we do have a few predictions we can share with you to help you plan for the year ahead.
Inventory Will Remain Tight
All signs are pointing to 2021 looking pretty similar to last year in a few respects, with low inventory being on the list. It has been nearly impossible to keep up with the buyer demand, resulting in slim pickings for buyers.
If you are looking to buy a home in the Central Valley in 2021, we have a team of agents that are ready to serve you and help you find your next home. It may require extra patience and level setting expectations, but we are sure the perfect-for-you home is within reach for you. You can check out a couple of our previous blog posts of what the market currently looks like for both buyers and sellers.
Home Prices Will Stay on the Rise
Which is great for sellers and a little tougher of a pill to swallow for buyers. With inventory low and eager buyers – 2021 will continue the trend we saw beginning last spring. If you spent last year saving and cleaning up your credit report, then 2021 is your year to take the leap into home ownership. If you still have some work to do in that department, commit to buckling down the first half of the year so that you can meet your goals sooner than later. Check out some tips from Dave Ramsey on how you can save for a down payment while renting.
Sellers can stay hopeful about getting a nice return on their investment and if you are working with an experienced agent, you will have plenty of offers headed your way. It will be important to have a plan for your next move, as the inventory will be slim. Practice patience and negotiate an offer that will give you the flexibility you may need.
The Real Estate Market Looks Stable
Most of us can remember the Real Estate Market Crash of 2008 and there are leery buyers and sellers wondering if we are in the midst of a bubble that could soon burst. Thankfully, all signs point to stability. The housing market has been leading the charge in our country’s economic recovery throughout the Coronavirus Crisis. Experts do not see an impending crash. We are in a completely different place than we were in 2008 and there is no reason to believe that the positive trends we saw in 2020 will be leaving us high and dry in 2021.
The Bottom Line
Real Estate in California has long been a safe investment and it will remain as such this year. Even if you aren’t planning on buying or selling in 2021 and you are currently a homeowner, you can expect to see your home value rise in this current market. If you aren’t sure what your goals are for this year, maybe investing in Real Estate can be added to your list?
2021 looks promising for Real Estate in the Central Valley, as many companies are adopting the work from home model and people are fleeing big cities and looking to plant roots in a place that is affordable and still close to big cities. With the Central Valley being positioned smack in the middle of Los Angeles and San Francisco, we fit the bill for a lot of eager buyers.
Our agents had incredible success in 2020 and are looking to continue it in 2021. There was a great deal of learning to be done in this new market, and they did so quickly and swiftly creating loads of sales and happy clients. We hope that you will trust us to serve you in the new year and we send you warm wishes of prosperity for 2021.