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Zillow predicts 21% increase in home sales, the most recorded since 2005

Zillow’s 2021 housing forecast echoes the projections of other industry experts for an acceleration of home sales and home value appreciation, with numbers anticipated to be even higher than in 2020.

According to Zillow’s Home Value Index, the company expects seasonally adjusted home values to increase by 3.7% from December 2020 to March 2021, and by 10.5% through December 2021. It also predicts home value appreciation to peak in June 2021 at 13.5%.

In fact, the company has already upped its December 2020 forecast: Zillow initially expected a 10.3% increase in home values through November 2021.

Approximately 5.6 million existing homes were sold in 2020, a 5.3% increase from 2019, according to officials. Zillow predicts 6.82 million existing home sales in 2021, the most recorded in a single calendar year since 2005 and a 21.1% increase from 2020.

Quarterly Zillow Home Value Index...

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We are seeing record-low inventories and overpowering demand across Southern California counties to start the year. As a result, it is already a blazing Hot Seller's Market in January. The market has not been this hot since 2013. The imbalance of supply and demand in the market right now are causing appropriately priced homes to fly off the shelves. Sellers will continue to call the shots through the winter months and into the spring. For any buyer thinking of waiting to purchase, this is an ill-advised decision. Now is the time to take advantage of these record-low rates!

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I have sold a property at 23715 Turtle in Laguna Niguel.
Located in the quaint community of Laguna Knolls, this home sits in a secluded cul-de-sac, across from the communities own private park. This is a duplex-style property, attached single family home, only attached at one wall. Remodeled 2BR/2BA, 1400SqFt. of living space with cathedral ceilings and a light and bright open floorplan. Kitchen features newer stainless steel appliances, granite countertops, brush nickel goose-neck faucet. Living room with vaulted, beamed ceiling and granite fireplace with gas logs, separate dining area. Spacious master suite, bathroom with dual vanities and granite countertops. Guest bedroom and bathroom with granite countertops. This floorplan also features an inside laundry (washer/dryer included), laminate & carpet flooring, vinyl windows & doors, skylights. Enjoy the outdoors in your private, gated front & rear patios, beautiful landscaping AND pomegranate and fig tree (gardener included)...
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