And it hasn’t gotten any better. 210 (it's OK to estimate), (It's OK to estimate or if no cash-out leave at $0). In housing markets like San Jose, there just aren’t enough homes available to meet the demand from buyers. Here is the latest market forecast for the SF county and metro areas until September of 2021. 3 Year Forecast: UP Forecast Accuracy: 77% The forecast for the trend in the San Jose housing market for the 3 years ending with the 3rd Quarter of 2021 is UP. December 2, 2020 2021 National Housing Market Forecast and Predictions: Back to Normal To say 2020 was a year of surprises is an extreme understatement. 1 housing market Boise, Idaho. The green shaded area to the right shows Zillow’s positive home-price forecast for the San Jose real estate market, extending into the fall of 2021. Following that trend, house values took a downward turn due to affordability issues and other factors. 2 was the San Jose metro with 21.6% growth combined from 10.8% sales growth and 10.8% price growth. Disclaimer: This article includes forecasts and predictions for the San Jose real estate extending into 2021. The San Jose housing market is very competitive. Yet housing supply is dwindling fast, aggravated by slower construction due to the pandemic. Record-low mortgage rates have pulled a lot of would-be home buyers off the fence and into the housing market. In June, the company wrote: “San Jose home values have gone up 2.6% over the past year and Zillow predicts they will fall -0.7% within the next year.”. San Jose is among the cities best-positioned to reap the benefits of a post-coronavirus world, according to a new study from the data analytics firm Moody’s.”. That’s logical, when you consider the current trend toward social distancing. Outlook: 5 Bay Area Housing Market Predictions for 2021. Topping Realtor.com’s national forecast were the fast-growing cities of Sacramento, California, San Jose, California, and Charlotte, North Carolina. Sacramento, Calif., San Jose, Calif. and Charlotte, N.C. are forecasted to see the highest home price appreciation and sales growth in 2021. Looking forward, the research team at Zillow offered a somewhat conservative forecast for the San Jose housing market that stretches into 2021. But as the public-health crisis eases, the market will eventually rebound. Welcome to the Bay Area housing market! As you can see, home prices in San Jose began a steady upward climb in 2012 that lasted until the summer of 2018. This is good news for real estate investors looking to buy a rental property in a strong housing market. There just aren’t enough homes listed for sale in the area to meet the demand from buyers. A Las Vegas real estate market forecast 2021 with a rise in inventory and dropping home prices means a housing market crash is in the city’s future, right? San Jose ranked second in 2021’s top housing markets and is the most expensive among the top 10, with a median home price of roughly $1.2 million. (not applicable for refinances), Use the slider to select the price range of homes you're interested in Top Housing Markets for 2021. Last week, we shared some predictions and polls that suggested more and more urban residents are considering a move to less crowded suburban and rural areas. And yet, that’s exactly what is expected. On December 7, Realtor.com’s research team published a 2021 forecast for the nation’s housing market. We’ve seen an increase in moves and relocations during the coronavirus pandemic, as people put a premium on space, home offices, and the like. That could be one of the driving factors for the San Jose real estate market, during the second half of 2020 and into 2021. And during times of economic turmoil and uncertainty, they’re even more difficult to produce. Sacramento was ranked No. You can see this in the chart below, provided by Zillow. That was the lowest average rate in 50 years of tracking (to date). Millennial homebuyers, relative affordability, and strong local economies will drive realtor.com®'s Top Markets of 2021 to lead the nation in a year when real estate is expected to be strong coast to coast. You can see how this housing market appreciated steadily from 2012 through the summer of 2018, after which prices dipped a bit. But COVID-related migration trends could give this market a boost. In fact, home prices across the top 10 markets are forecasted to increase by 6.9% and sales by 13.1% year-over-year, which is significantly higher than the national projection of 5.7% price appreciation and 7.0% sales growth. In San Francisco, there are more than 17,000 residents per square mile. 1, projected to rise 24.6% from a combined 17.2% rise in sales and 7.4% price growth. Millennial homebuyers, relative affordability, and strong local economies will drive realtor.com®'s Top … These 13 housing crash factors will shape the housing market. Check out the latest US stats, and discover when you should buy or sell. The Covid 19 shutdowns have impacted the rental housing market, yet prices have risen and look to rise further in the face of ongoing rental housing shortages, and a housing market that may cool. The market is a 2 tiered one of inner city … It’s hard to distance yourself in a crowded city center. Related: Forget Demographics—Research THIS Before Investing in a New Market Throughout the pandemic, economists have referred to the U.S. real estate market as one of the only bright spots in the economy. The US housing market has its detractors, with a few certain that a housing market crash is imminent. Based on Realtor.com’s local market forecast, the areas on this list are expected to see the strongest home price and sales growth in the U.S. in 2021. The Accuracy of the Trend Prediction for San Jose is 77%. It’s based on Zillow’s proprietary home value index. The housing market will remain strong through 2021 as the economy recovers from the pandemic-driven recession. The Tampa-St. Petersburg-Clearwater metro area’s housing market is expected to be among the most active heading into 2021. After falling to the lowest level since the Great Recession, continued to improve in August as home sales climbed to their highest level in more than a decade as the median home price broke last month’s record and hit another high, according to September 16 release by C.A.R. Experts project an optimistic year for the 2021 housing market. 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