Each year the Home Buying Institute analyzes current real estate market trends and conditions across the United States to offer a forecast for the upcoming year. This year there are lots of things to consider.

Below are the top five predictions for the 2021 real estate market.

1. Home prices will continue rising in most U.S. cities.
2. Housing market inventory will remain tight in 2021.
3. Home sales will remain steady going into next year.
4. Mortgage rates will hover around 3% next year.
5. It will be another good year for refinancing.

Click here to read the full article.

Overall, Yun said he felt confident that home prices would maintain their stability throughout the pandemic, but he did not anticipate that prices would soar, “particularly in the second half of the year.”
What might the future hold? Yun predicts that home sales could be 20 percent higher in the third and fourth quarters compared to the prior year. Additionally, he sees home sales rising more than 5 percent, possibly 10 percent, in 2021, as a vaccine becomes available and possibly leads to faster job growth with still favorable mortgage rates, which should stay near 3 percent.

Buffini said that for the next three years, as interest rates stay low per the Federal Reserve’s guidance, real estate professionals should put in extra efforts and make sales, even buying the very assets they sell.

You can read the full article here.

There are fewer homes for sale in the U.S. today than ever recorded in data going back nearly 40 years.

“We are simply facing a housing shortage, a major housing shortage,” says Lawrence Yun, the chief economist at the National Association of Realtors which tracks home sales. “We need to build more homes. Supply is critical in the current environment.”

“Housing inventory shortages have pushed national home prices considerably higher,” says Joel Kan, vice president of economic forecasting for the Mortgage Bankers Association.

“We have been under producing for the past decade,” Yun says. “We need more construction.”

Yun had much more to say, see the full NPR article here. 

National Housing Market Data

According to Realtor.com’s Monthly Housing Market Trends Report:

• National inventory declined by 38% over the last year.
• Inventory of newly listing properties decline by 7% nationally.
• The national median listing price in October was $350,000, up 12% compared to last year.
• The typical home spent 53 days on the market this October which is 13 days less than last year, and one day less than last month.

Forbes reports,  “For the first time since 2011, homes sold faster in October than September and prices remained at their summer peak of $350,000.”
“Realtor.com®’s October housing data release reveals that sellers returned to the market, as the decline in newly listed properties substantially improved…While the national price growth rate continued to accelerate to historical highs, larger metros saw a slight softening, signalling a small reprieve for buyers in this active autumnal season.”

Will rising prices create a slow down?

Home prices propelled up in December, according to the S&P CoreLogic/Case-Shiller Indices.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index’s 10-City Composite, which is an average of 10 metros (Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and Washington, D.C.), rose 6 percent year-over-year, mirroring November, which posted the same.

The 20-City Composite—which is an average of the 10 metros in the 10-City Composite, plus Atlanta, Charlotte, Cleveland, Dallas, Detroit, Minneapolis, Phoenix, Portland, Seattle and Tampa—rose 6.3 percent year-over-year, a decline from 6.4 percent in November.  Month-over-month, both the 10-City Composite and the 20-City Composite rose, each 0.2 percent.

According to S&P Chairman of the Index Committee and Managing Director David M. Blitzer, housing and inflation are on similar trajectories, but home prices are in the lead—vastly.

“The rise in home prices should be causing the same nervous wonder aimed at the stock market after its recent bout of volatility,” says Blitzer.  “Across the 20 cities covered by S&P Corelogic Case Shiller Home Price Indices, the average increase from the financial crisis low is 62 percent; over the same period, inflation was 12.4 percent.  None of the cities covered in this release saw real, inflation-adjusted prices fall in 2017.”

Blitzer is eyeing factors, however, that point to a slowdown.

“Within the last few months, there are beginning to be some signs that gains in housing may be leveling off,” Blitzer says.  “Sales of existing homes fell in December and January after seasonal adjustment and are now as low as any month in 2017.  Pending sales of existing homes are roughly flat over the last several months.  New-home sales appear to be following the same trend as existing-home sales. While the price increases do not suggest any weakening of demand, mortgage rates rose from 4 percent to 4.4 percent since the start of the year. It is too early to tell if the housing recovery is slowing. If it is, some moderation in price gains could be seen later this year.”

According to the National Association of REALTORS® (NAR), existing-home sales fell 3.6 percent in December and 3.2 percent in January—the latter the lowest in more than three years. New-home sales thudded 7.8 percent in January, the Commerce Department recently reported. December pending sales eked out an 0.5 percent gain, data from NAR show.

Crippling growth is the inventory shortage, which continues to constrain sales as buyers face a lean pool of supply.

The complete data for the 20 markets measured by S&P Dow Jones:

Atlanta, Ga.
Month-Over-Month (MoM): 0.3%
Year-Over-Year (YoY): 5.4%

Boston, Mass.
MoM: -0.2%
YoY: 5.5%

Charlotte, N.C.
MoM: 0.1%
YoY: 5.9%

Chicago, Ill.
MoM: -0.6%
YoY: 2.6%

Cleveland, Ohio
MoM: -0.3%
YoY: 3.5%

Dallas, Texas
MoM: 0.1%
YoY: 6.9%

Denver, Colo.
MoM: 0.6%
YoY: 7.4%

Detroit, Mich.
MoM: 0%
YoY: 7.1%

Las Vegas, Nev.
MoM: 0.8%
YoY: 11.1%

Los Angeles, Calif.
MoM: 0.7%
YoY: 7.5%

Miami, Fla.
MoM: 0.1%
YoY: 3.6%

Minneapolis, Minn.
MoM: -0.4%
YoY: 5.2%

New York, N.Y.
MoM: 0%
YoY: 5.4%

Phoenix, Ariz.
MoM: 0.2%
YoY: 5.6%

Portland, Ore.
MoM: 0.2%
YoY: 6.8%

San Diego, Calif.
MoM: 0.2%
YoY: 7.4%

San Francisco, Calif.
MoM: 0.5%
YoY: 9.2%

Seattle, Wash.
MoM: 0.6%
YoY: 12.7%

Tampa, Fla.
MoM: 0.3%
YoY: 6.2%

Washington, D.C.
MoM: 0.2%
YoY: 2.8%

Prices are up, homes selling faster, new listings slightly up

Autumn began in September, but activity in the housing market remained at summer-like levels through October, according to realtor.com’s latest data preview. Prices in October were 10 percent higher than those one year ago, with the national median at $275,000 and the national median age of inventory at 73 days.

“This month we aren’t just experiencing still-summery weather—we’re also seeing a sizzlingly competitive housing market at a time when things are usually cooling off for the fall,” says Danielle Hale, chief economist at realtor.com. “With not enough homes on the market to meet the high demand, homes are selling 8 percent more quickly than a year ago even though prices are as high as they’ve ever been.

“For potential buyers who waited until fall hoping to score a bargain, the pickings are disappointingly slim,” Hale says, “but one potential bright spot for market-fatigued buyers is that new listings are up slightly from one year ago. While new listings declined in the first four months of the year, they have increased on a year-over-year basis in five of the last six months.”

As we head towards 2016 and the coming New Year, there are five real estate trends to watch for on a national level, as we approach the new year, according to a recent article on Realtor.com. The first trend is that coming off this year (2015), which saw the best year in housing nationwide since 2007, the housing market is expected to return to a more normal type of market, with healthy growth in sales and home prices, leading to a more balanced market nationally in both categories. Second, younger generations have now entered the real estate market as of this year, and are projected to continue getting into the market as potential buyers and sellers in 2016, as well, with improving economic conditions nationally. Third, home builders will focusing more on affordable home points, in order to capitalize on the potential growth in new home sales and single-family construction expected in 2016. Fourth, rising mortgage rates, which have been expected for some time, will affect higher cost markets the most initially, but is largely expected to balance itself out on the whole. Finally, it is expected that it will be better to buy, rather than rent, a home in the coming year, as well. Very interesting trends nationally, to be sure, and we will have to wait and see what it could all mean in the New Year for both the local and national housing markets.

With mortgage rates still at historically low levels nationwide, now is a great time to see what the Great Smoky Mountains can do for you and your home ownership dreams today. Please feel free to browse our many great Featured Properties, and learn more about how The Jason White Team can help you realize your home ownership dreams today!

Our Featured Properties for Thursday, December 17, 2015: 

JUST REDUCED!

Private, Cozy, 3 BD/2 BA Cottage-Style Home Located in Chalet Village, & Only Mins. to Dwtn. Gatlinburg. Ideal as a permanent or 2nd home, or as an overnight rental. Very well-built & maintained home, both inside & out. Includes an outside, covered wraparound deck, along w/a Large Living Rm, Master BD w/Adj. Master BA, two BD’s upstairs (one currently used as a Rec Rm), lots of extra storage & closet space, & more. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions. A great, privately located home w/lots of potential – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $136,900  For more information >

RECENTLY REDUCED!

Private, 2 BD/2 BA, Contemporary-Style Chalet Located Only Mins. to Dwtn. Gatlinburg. Has made over $21K in rental income in each of the last 2 years alone; has great rental potential. Home includes a Living Rm w/high, vaulted ceilings & a Beautiful Mtn. Stone F/P, along with each BD being a Suite-style BD w/Private BA, an outdoor Gazebo area w/a Hot Tub, a spacious deck area to enjoy the views of the Smokies, & much more. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions. A great, private home & location – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $189,900  For more information >

FEATURED PROPERTY!

Uniquely-Designed, Cozy, 3 BD/2 BA Chalet Located in Chalet Village. Ideal as a permanent or 2nd home, or as an overnight rental. This uniquely-built home includes a Living Rm, Open Kitchen, an upstairs Loft w/Master BD & BA, a lower level Family Rm, &  more, along w/being set in a scenic wooded setting. Only mins. to dwtn. Gatlinburg, Pigeon Forge, & the attractions; a great location & value – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $149,900  For more information >

The Jason White Team
Century 21 Four Seasons Realty, Inc.
1441 Wiley Oakley Drive
Gatlinburg, TN 37738
Toll Free: (877) 678-2121
Fax: (865) 436-7227
E-mail Address: jason@jasonwhiteteam.com
Website: https://gatlinburgrealestateforsale.com

As we look ahead to the coming years of 2016 and 2017 in the national real estate market, a recent forecast by the Urban Land Institute states that the real estate industry will remain sustainable and solid through the year 2017. There are many signs pointing to this kind of solid, sustained growth, including a projected net job growth of 2.9 million people per year over the next 2 years, as well as having the interest rates for 10-year Treasury notes average at or around 3%, despite any increases, and will remain lower than the long-term average of 4.1%, and other related factors, all pointing to a sustained growth through 2017 for the real estate market, barring any unforeseen downturns, crises, or other events that could change such a forecast. Very encouraging news, for sure, and could bode well heading into the new year for national real estate on the whole.

With forecasts like this that show a continued growth in real estate nationally, along with still historically low interest rates, now is a great time to see what the Great Smoky Mountain real estate market can do for you today. Please feel free to browse our many great Featured Properties, and learn more about how The Jason White Team can help you realize your home ownership dreams today!

Our Featured Properties for Thursday, November 19, 2015:

FEATURED PROPERTY!

Private, 3 BD/4 BA Log Cabin, Located at the Very Top of Gatlinburg w/Incredible Views. Has made $28K annually in rental income in each of the last 2 yrs, & on track to do so again this yr – has great rental potential. This home sits right along the Nat’l Park boundary, w/one-of-a-kind views of the Smokies. Home incl. a lower level Priv. Master Suite w/Priv. BA w/W/P, along w/a spacious Main Lvl, w/a  new Kitchen, Living Rm w/Massive Mtn. Stone F/P, 2 BD’s, & 2 BA’s, & Loft area. Only mins. to dwtn. Gatlinburg & the attractions. A true piece of paradise in the Smokies – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $399,900  For more information >

FEATURED PROPERTY!

Incredible, Opulent, Beautiful, 3 BD/3 BA Home Located in New Center. Ideal as a permanent or 2nd home; located in a private, gated community, in the shadow of English Mountain. This immaculate home features a Large Open Great Rm w/an Open Hearth F/P, Full Kitchen, Large Master BD w/2 walk-in closets & Large Master BA w/Whirlpool, & much more. Very beautiful home, & only mins. to English Mountain, set in a nice country setting. Come see it today! Type: Single-Family Home Location: Sevierville, TN Price: $499,900  For more information >

FEATURED PROPERTY!

Luxurious, Majestic, 6 BD/5 BA/2 Half Bath Home Located Just Mins. to Pigeon Forge. Made $63K in rental income for 2014 alone, & incl. a recent rental assessment potential for up to $120K. This majestic home includes 4 Master Suite-style BD’s, complete w/Private BA’s, Whirlpools, & Private Walk-in Closets, a spacious Loft, a Massive Living Rm, a Large Lower Level Rec Rm, a Theater Rm, & more. Also includes great views of the Smokies, & is only mins. to the Parkway in Pigeon Forge. A great, majestic home – come see it today! Type: Single-Family Home Location: Pigeon Forge, TN Price: $599,900  For more information >

The Jason White Team
Century 21 Four Seasons Realty, Inc.
1441 Wiley Oakley Drive
Gatlinburg, TN 37738
Toll Free: (877) 678-2121
Fax: (865) 436-7227
E-mail Address: jason@jasonwhiteteam.com
Website: https://gatlinburgrealestateforsale.com 

Some very encouraging new data regarding housing starts throughout the United States was released by the U.S. Commerce Department this week. For this past month of September 2015, U.S. housing starts actually increased by 6.5%, up to a seasonally adjusted annual pace of 1.21 million units, which was actually higher than anticipated (1.15 million units) and is the sixth-straight month in which housing starts remained over 1 million units, pointing to a potential sustainable housing recovery nationwide. Housing also has a broad impact on the economy, with rising home prices increasing overall household incomes and also supporting greater consumer spending as a whole. In the South alone, housing starts increased by 0.6%, which rose overall housing starts in the region to its highest level since October 2007. With great apparent confidence in term of housing starts throughout the U.S., this could be a further sign of a recovering housing market nationwide, and will be certainly worth watching to see if this overall upward trend will continue, along with its impacts for the housing sector as a whole.

With encouraging trends like those of increased housing starts throughout the country, now is a great time to see what the Great Smoky Mountains can do for you and your home ownership needs. Please feel free to browse our many great Featured Properties, and learn more about how The Jason White Team can help you realize your home ownership dreams today!

Our Featured Properties for Thursday, October 22, 2015: 

JUST REDUCED!

Cozy, Well-Located, Rustic-Style, 3 BD/2 BA Chalet Located Only Mins. to Dwtn. Gatlinburg. Ideal as a permanent or 2nd home, or as an overnight rental. Has a gently flowing mtn. stream below this home, along w/being in a beautiful, wooded setting, while also close to the action of Gatlinburg. Home includes a Large Great Rm, each BD w/its own Private Closet space, a Loft area w/Small Den, & more. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions; a great home & value – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $154,900  For more information >

FEATURED PROPERTY!

Uniquely-Designed, Cozy, 3 BD/2 BA Chalet Located in Chalet Village. Ideal as a permanent or 2nd home, or as an overnight rental. This uniquely-built home includes a Living Rm, Open Kitchen, an upstairs Loft w/Master BD & BA, a lower level Family Rm, &  more, along w/being set in a scenic wooded setting. Only mins. to dwtn. Gatlinburg, Pigeon Forge, & the attractions; a great location & value – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $149,900  For more information >

FEATURED PROPERTY!

Private, Cozy, 3 BD/2 BA Cottage-Style Home Located in Chalet Village, & Only Mins. to Dwtn. Gatlinburg. Ideal as a permanent or 2nd home, or as an overnight rental. Very well-built & maintained home, both inside & out. Includes an outside, covered wraparound deck, along w/a Large Living Rm, Master BD w/Adj. Master BA, two BD’s upstairs (one currently used as a Rec Rm), lots of extra storage & closet space, & more. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions. A great, privately located home w/lots of potential – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $139,900  For more information >

The Jason White Team
Century 21 Four Seasons Realty, Inc.
1441 Wiley Oakley Drive
Gatlinburg, TN 37738
Toll Free: (877) 678-2121
Fax: (865) 436-7227
E-mail Address: jason@jasonwhiteteam.com
Website: https://gatlinburgrealestateforsale.com 

Throughout 2015, there have been some very encouraging signs that the national real estate market continues improving, especially in terms of higher home prices. In addition, there are some additional national trends that show a continued recovery in the national real estate market, as well, and point to a positive outlook through the rest of 2015, and perhaps beyond. Recently, new data from Zillow shows that the share of underwater mortgage holders, who are those that more owe more than their homes are worth, has now dropped by more than half since peaking in early 2012, showing that only 14.4% of homeowners with a mortgage have negative equity as of the second quarter of 2015, as opposed to being at 31.4% in the first quarter of 2012. Along with this recent news, U.S. real estate was recently ranked #1 in the world by the influential Savills World Residential Investability Report, spurred on recent general economic growth and market recovery potential in the nation, as a whole. Lastly, new home sales in August 2015 surged by 5.7%, showing the strongest pace of growth in this category since February 2008. Very encouraging signs for the national real estate market, to be sure, and could bode well for the remainder of 2015.

With these encouraging national real estate trends, along with still historically-low interest rates, now is a great time to see what the Great Smoky Mountains can do for you and your home ownership needs. Please feel free to browse our Featured Properties, and learn more about how The Jason White Team can help you realize your home ownership dreams today!

Our Featured Properties for Thursday, September 24, 2015:

NEW LISTING!

Private, 3 BD/4 BA Log Cabin, Located at the Very Top of Gatlinburg w/Incredible Views. Has made $28K annually in rental income in each of the last 2 yrs, & on track to do so again this yr – has great rental potential. This home sits right along the Nat’l Park boundary, w/one-of-a-kind views of the Smokies & surrounding areas. Home incl. a lower level Priv. Master Suite w/Priv. BA w/W/P, along w/a spacious Main Level, w/a  new Kitchen, Living Rm w/Massive Mtn. Stone F/P, 2 BD’s, & 2 BA’s, & a Loft area. Only mins. to dwtn. Gatlinburg & the many local attractions. A true piece of paradise in the Smokies – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $399,900  For more information > 

NEW LISTING!

Beautiful, Private, 4 BD/3 BA, 2 Acre, Multi-Family Duplex Located Only Mins. to Gatlinburg. Ideal as a permanent or 2nd home, overnight rental, or as a multi-family duplex – has great rental potential. Majestic views of the Smokies; both levels of this home can be rented separately. Upper level incl. a Large Living Rm, full Kitchen, 2 BD’s, 2 BA’s, and upper deck area to view the Smokies, & lower level also has 2 BD’s, Living Rm, & Kitchen, as well. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions. A great home & location – come see it today! Type: Multi-Family/Single-Family Home Location: Gatlinburg, TN Price: $398,000  For more information >

RECENTLY REDUCED!

Pristine, 5 BD/5 BA Mountain Estate w/Majestic Mtn. Views & Close to Gatlinburg. An amazing property, w/unlimited potential as a residence, rental, or retreat center. Very spacious, & borders the Nat’l Park, creating your own 530,000 acre backyard. Only a 3 mile walk on a natural trail leading from this property to dwtn. Gatlinburg, & just mins. to Ober Gatlinburg. You’ll never find another unique property like this one – come see it before it’s too late! Type: Single-Family Home Location: Gatlinburg, TN Price: $419,000  For more information > 

The Jason White Team
Century 21 Four Seasons Realty, Inc.
1441 Wiley Oakley Drive
Gatlinburg, TN 37738
Toll Free: (877) 678-2121
Fax: (865) 436-7227
E-mail Address: jason@jasonwhiteteam.com
Website: https://gatlinburgrealestateforsale.com