The housing market has been on fire this year with record-low mortgage rates and a sudden wave of relocations made possible by remote work. Meanwhile, home prices have pushed new boundaries as buyer demand continues to surge. As we near the end of 2020, here’s a look at the expectations of real estate experts for 2021.

Danielle Hale, realtor.com chief economist: We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels. While we expect mortgage rates to tick up gradually, sales and price growth will be propelled by still strong demand, a recovering economy, and still low mortgage rates. High buyer demand and still-lagging supply will keep prices growing, but at a slower pace than 2020 as buyers contend with mortgage rate and price increases that create affordability challenges.

Younger Millennial and Gen-Z buyers are expected to play a growing role in the housing market. First-time buyers in these generations who don’t have existing home equity to tap for down payment savings will create a bigger barrier to entry for the many. We do expect the declines to slow and potentially stop by the end of the year as sellers grow more comfortable with the market environment and new construction picks up. Single-family housing starts are expected to grow another 9 percent in 2021. On the whole, the market will remain seller-friendly, but buyers will still have relatively low mortgage rates and an eventually improving selection of homes for sale.

From Forbes.com

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The Castle Shannon Duplex project started as a simple flip, but turned in to so much more. While working on what was thought to be a standard flip, founder and owner Mike Lenkner got to know the families of the neighborhood he was working in. His involvement with the people in the community actually facilitated more house remodels in that neighborhood. It also helped raise the adjoining duplex’s property value significantly!

Mike truly cares about the people and communities he works in. He goes the extra mile to take personal time to get to know the neighborhood and the neighbors to make sure the people of the community can be happy, comfortable, safe, and ultimately proud of where they live. That’s the BlueRoc difference.

Project: Castle Shannon Duplex

Area: Castle Shannon (South Hills of Pittsburgh, PA)

Type of Project: Half Duplex Flip

BEFORE

AFTER

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The new site is clean, modern, professional, eye-catching, and most of all, user-friendly. It tells the story of founder and owner, Mike Lenkner. It also helps potential clients and partners understand what to expect from BlueRoc Realty throughout any transactions or dealings. The new site opens up opportunities to start a conversation with our team via contact forms. With a case studies and blog section, the site will also frequently be updated with new and recently completed projects, industry-related information, and much more!

Thanks again to the team at ocreations that made this website come to life! BlueRoc Realty looks forward to a continued partnership for any future web or other design-related needs.

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