DAVIDSONVILLE, ANNAPOLIS, EDGEWATER, ARNOLD AND SEVERNA PARK REAL ESTATE
For prospective buyers who will be out looking for Annapolis homes for sale in the coming year, last Wednesday’s “Housing Forecast for 2021” that was picked up by commercial newswires held both good and bad news. The mix of favorable and less-favorable elements alternated back and forth throughout the news release. Future Annapolis house-hunters might have felt the reader’s equivalent of watching a tennis match rally. The source of the forecast—realtor.com—did offer up one overriding reassurance: GOOD: “The 2021 housing market will be much more ‘normal’ than the wild swings [experienced this year].” But that was tempered with: NOT SO GOOD: “Prices stay high.” The back-and-forth continued: ENCOURAGING: “…more home options will probably become available…” NOT SO ENCOURAGING: “…[for buyers] waiting until the fall or winter months.” GOOD: [Early buyers]…will likely see lower prices and mortgage rates.” NOT SO GOOD: “…buyer competition remains strong…” GOOD: “Realtor.com® forecasts mortgage rates will continue to hover near 3%…” SORT OF GOOD: “…then slowly rise to 3.4% by the end of the year.” ENCOURAGING: “Buyers may finally have a better selection of homes to choose from…” LESS ENCOURAGING: “…later in the year.” …and so on. It looked like buyers who move early will be rewarded—perhaps more than those who wait longer. In the long run, the ultimate benefit to the buyer will as ever, be more dependent on the quality of the property being purchased. That’s always the case, whether sooner or later. For homeowners who will list their own Annapolis homes for sale in the coming year, the same back-and-forth seemed more optimistic, starting with “Sellers will continue to hold the upper hand throughout 2021…” The predicted “slowing” price increases would, after all, continue to score new highs. And one key forward-looking edict would be good news for buyers as well as sellers—both “can expect homes to sell more quickly in 2021.” Since sellers often become buyers, that should be unalloyed good news. If 2021 will find you becoming a buyer or seller (or both), I hope you’ll call on me to supply professional guidance you can rely upon!
DEBORAH LAGGINI, Long and Foster Real Estate, Annapolis, MD 21403
CELL 410.991.6560
EMAIL [email protected]
REALTOR, Annapolis, Davidsonville, Edgewater, and Surrounding Communities