The questions I get most often are, “How is the real estate market?” and, “What do you predict for 2021 in real estate?”. Here you will see predictions shared from California Association of Realtors regarding the state of California and our local market as presented by Dr. Eyler, President of Economic Forensics and Analytics.
Napa is predicted to gain more than 8% in median home prices by October of 2021. Some of this is dependent on the need for employment numbers to improve and how long this recovery will take. Lower prices houses may be selling more due to the high unemployment rate of the owners of those homes. Interest rates are predicted to stay low until 2022. Indicators Dr. Eyler is watching carefully include outmigration, structural changes in businesses, shelter in place surge, and vaccines. Supply and demand compacted with slow home building are all major contributing factors to these predictions.
Dr. Eyler was generous enough to not only let us record his presentation but share his slides. Email me if you would like the slides. Let me know if you have any questions.
For more information on the local current real estate market, or to find out the value of your home- call, text, or email me today!