The real estate market is always changing and the summer/fall 2021 is sure to follow suit. Realtors share insights and give us a glimpse of what’s to come.
Today’s real estate market has been called many things, from being likened to the Wild West, it’s crazy, alarming, and insane. Realtors who participated in HomeLight’s 2021 Summer/Fall Top Agents Insight Report voice their concerns and highlight key factors that will shape the market during the second half of 2021.
High prices make buyers think twice
According to the survey, 54.4% of realtors have seen contracts fall through because buyers balked at the extremely high prices for homes. This is a problem even among rural and small town communities. 
Why does this happen? Right now, buyers probably have put in offers on a few houses and didn’t win the bid. So when they finally find a house and their offer is accepted, they’re thrilled! But when they sit back and crunch the numbers aga. ...

While the COVID-19 pandemic wreaked havoc across the globe, and many states issued lockdowns for everything deemed nonessential, the real estate market came back strong in 2020. With the pandemic still affecting daily lives, you can expect to see it shape real estate in 2021; let’s take a look.


Industry preparedness
March 2020’s lockdown sent real estate transactions to a grinding halt, forcing all industry areas to rethink how they do business. In fact, much of the technology used during the pandemic existed but wasn’t widely adopted. With virtual tours, remote showings, and digital closings now the norm, the real estate industry shouldn’t be flipped on its head during a virus surge.


Remote work will encourage more moves
Many employers are expected to make many positions permanently remote in the coming months. With more companies embracing remote jobs, employees are free to choose where they want to reside without having to factor in commutes. . ...

 
According to new research from lender Freddie Mac, every generation—from millennials to Gen Xers to Baby Boomers—are continuing to rent because they think it's saving them money. According to the report, 76% of Millennials, 75% of Gen Xers, and 81% of Baby Boomers said renting was the more affordable option. But with rents rising across the country, that's just no longer the case. According to the most recent Market Outlook Report from Realtor.com, rents rose year over year in nearly ¾ (73%) of counties across the United States. And according to Trulia, it is now more affordable to own a home than to rent in a whopping 98% of the largest metro markets in the US.
The Takeaway
The misconception that renting is more affordable than homeownership is not only costing renters of every generation money, it's also costing them the ability to own their own home. If you've been renting because you believe it's saving you money—no matter how old you are—it ...

When homeowners are preparing to put their properties on the market, one aspect is usually foremost in their minds: money. Setting the asking price accurately can mean the difference between getting an offer quickly and having a house languish for months, drawing little interest. With that in mind, it's important that potential sellers block out a lot of the noise that often surrounds the intricate art and science of pricing. There are plenty of myths that may cause sellers to lose sleep at night as they attempt to separate fact from fiction. The following are statements that can stand in the way of a successful sale.

1. 'If we keep waiting, a better offer will come along!'
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When sellers receive an offer from the first showing, they may be skeptical or hesitant to accept it, wondering if other prospective buyers would be inclined to pay more. Thoughts of potential bidding wars could cause sellers to want to wait and see who else falls for their place. But, remember the ...