he 2️⃣nd real estate market prediction for the US in 2021, from ” CoreLogic’s” chief economist, is that 𝙝𝙚𝙧𝙚 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙢𝙤𝙧𝙚 𝙛𝙞𝙧𝙨𝙩 𝙩𝙞𝙢𝙚 𝙝𝙤𝙢𝙚 𝙗𝙪𝙮𝙚𝙧𝙨 𝙚𝙣𝙩𝙚𝙧𝙞𝙣𝙜 𝙩𝙝𝙚 𝙢𝙖𝙧𝙠𝙚t. Hi, I’m Natasha Carol with ”Natasha Caroll Realty.” Remember, as in our last video, ”CoreLogic” base their predictions on public data and on facts. And being in the industry 10 plus years, I have heavily rely on their data. He believes that lower interest rates will continue to entice buyers to want to enter the market. It’s an easier transition to enter the housing market because the principal and the interest rates is much lower today than they were a year ago, actually about 1% lower and that lowers a buyer’s monthly payments significantly, so much so that oftentimes the mortgages are lower than what a monthly rental would be. And remember, they also have the benefit of writing off some of their mortgage interest.
Buyers will have more monthly cashflow 💵 because of the interest rates combination along with the writing off of interest, gives them more out there for cashflow. However, the negative part for the buyer is that prices are going up. Initially when they purchase a home, they’re also going to need more money for down payment, closing costs, monthly reserve. So, this will cause or could cause a bit of stress in the beginning but once they get into the home, it’s going to be great. But initially, getting into the home may be a bit of a little financial challenge. I hope this information was helpful be sure to search our YouTube channel, at Natasha Carroll Realty for all four predictions for 2021. Reach out to us here at any time if you have any questions. Have an awesome home buying and selling day.