Currently Reading

Key Characteristics of the 2021 Housing Market

Housing Markets

Key Characteristics of the 2021 Housing Market

Here's what buyers can expect in the months to come...

November 2, 2021
For sale sign outside of housing property

High demand, low housing supply, a lack of starter homes, and fierce competition are the critical factors of a booming 2021 housing market reporting record-breaking prices, says Forbes Business Council.

As demand continues to outpace supply and interest rates steadily increase, prices will likely rise in areas where housing options are limited, making it especially difficult for first-time buyers to find homes at affordable prices.

Over the summer, there were a few months when home sales slowed a little, but in August, sell rates came back stronger than ever. Lines at open houses and bidding wars for houses that in the past couldn't be sold are now commonplace. Sellers are in a tough position even when they can sell at a great price, for it only exposes them to the high prices and scarcity of the seller's market. This is why many realtors are advising clients to find a home first before they sell.

There are a total of 1.6 million homeowners currently in forbearance, and Zillow estimates 25% of them will end up in the foreclosure process. But unlike in 2008, today's market brings additional equity to those who are forced to sell and allows even those who lose their homes to access the market again and look for something more affordable. 

Read More

Related Stories

Housing Markets

Texas Is Home to More Than One Overvalued Metro

The 2008 housing bubble missed Texas, but the popular Sun Belt state is now home to some of the priciest regional markets in the nation

Market Data + Trends

Housing Inventory Is Falling at Its Slowest Pace in Two Years

April for-sale housing inventory fell at a single-digit year-over-year pace for the first time since the start of the pandemic

Housing Markets

Which Local Housing Markets Will See Price Reductions in 2022?

Some overheated housing markets are already seeing prices drop, but most will be bogged down by more gains throughout the majority of 2022


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.