Looking ahead to the second half of the year, sales will remain brisk, but will likely be a little off the pace we saw for the first six months of 2021. The lack of inventory will continue to constrain sales, as more potential buyers get back to their normal routines with friends and family.
"Housing inventory should grow slightly as more sellers become comfortable opening their homes to potential buyers"
Average sales price should hold steady at current levels, which are at or close to all-time highs in most of our marketplace. But we don’t expect to see much more increase in home prices this year. Housing inventory should grow slightly as more sellers become comfortable opening their homes to potential buyers, but it still won’t be enough to meet
current buyer demand.
And, with inflation rising, mortgage rates will begin to creep up, probably in the 4th quarter of this year. Even so, they should still remain in the low-to-mid 3% range for a 30-year fixed rate loan.
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