Blog — Page 16

2021 Housing Market Forecast and Predictions

December 5, 2020 By EmmanuelFonte Leave a Comment

2021 National Housing Market Forecast and Predictions: Back to Normal

To say 2020 was a year of surprises is an extreme understatement. What started off as a bright year for the housing market and the economy was soon derailed by a global pandemic and severe economic recession. As detailed by my colleague, George Ratiu, the economic rebound has been sharp, but is by no means complete and created distinct winners and losers among sectors in the economy. Read more detailed thoughts on the overall economic context and outlook, here. One of the big winners has been the housing market, which saw home sales and prices hit decade-plus highs following decade lows in the span of just a few months. We expect housing’s winning streak to continue in 2021 as seasonal trends normalize and some of the frenzied momentum fades thanks to fresh affordability challenges. Below you’ll find our forecast and housing market predictions on key trends that will shape the year ahead.

Realtor.com 2021 Forecast for Key Housing Indicators

Housing Indicator	Realtor.com 2021 Forecast
Mortgage Rates	Average 3.2% throughout the year, 3.4% by end of year
Existing Home Median Sales Price Appreciation	Up 5.7%
Existing Home Sales	Up 7.0%
Single-Family Home Housing Starts	Up 9%
Homeownership Rate	65.9%

Filed Under: Blog, Economy, Housing Market, Real Estate, Real Estate Updates

Kitchen of the Week: Light and Airy With a Bright Backsplash

December 1, 2020 By EmmanuelFonte Leave a Comment

A designer helps a couple update the kitchen with an efficient layout and custom details like a walnut-topped peninsula

Bryan and Heather Kurey looked at their dysfunctional kitchen and considered moving into a new home. The aging oak cabinets, oversize breakfast area and lack of countertops didn’t create a welcoming space for a couple who love to cook. But they soon realized that most of the homes they considered buying also had kitchens that needed updating. The couple looked at photos on Houzz and other sources and became inspired to remodel what they had.

They hired designer Lisa Quina, who had helped them renovate other areas of the late-1930s home in Arlington, Virginia. Quina relocated appliances, added windows, enlarged an opening to the family room, improved storage and used local artisans for custom details that add character. Now the family enjoys a brighter kitchen that combines classic, industrial and modern design elements to better reflect its style and love of cooking.

Filed Under: Appliances, Blog, Decor, Home Remodel

Bathroom of the Week: Bright and Airy Design

November 24, 2020 By EmmanuelFonte Leave a Comment

A designer at a design-build firm helps a homeowner pull together her ideas and create a well-functioning space

The homeowner who uses this bathroom enjoys the design and remodeling process, and she was ready to embark on a full bathroom remodel when she visited The Kitchen Studio’s showroom in West Chester, Pennsylvania. “She has a great appreciation for design and high-functioning spaces,” designer Dana Bender says. “In our collaboration, we helped her refine and implement her ideas.” The homeowner’s preferred style is modern with warm organic touches. Bender helped the busy mom put the design together, and the construction arm of the business, Pine Street Carpenters, completed the work.

Filed Under: Architecture, Blog, Home Remodel

Internet Usage In 2020: The Year We Stayed At Home

November 24, 2020 By EmmanuelFonte Leave a Comment

In the age of smartphones, the internet dominates our lives. From shopping to banking and entertainment to work functions–they’re all online these days. 4.5 billion people–or 59%–of the global population, used the internet today and this number is set to grow. To put the numbers into perspective, there were only 1.7 billion internet users in 2012 when these figures were first published.