It’s the time of year where everyone starts making their predictions for the next 12 months, and the real estate industry is no exception. Experts are already predicting which markets will be hot in 2021, based on current trends and recent news. In this article, real estate tech company SetSchedule reviews some of the hottest markets for 2021.
Priced out of Miami? Consider Tampa
Let’s start out close to home. Many experts are looking at the rising prices in Miami and realizing that the market is becoming unsustainable for some buyers. Those looking to move to South Florida may consider smaller towns, but on the metro level, it looks like Tampa is the most likely beneficiary of Miami’s current success.
Tucson Becomes a Bedroom Community for Phoenix
With about 100 miles between them, Tucson and Phoenix are too far apart for most commuters. However, with more and more companies eyeing the possibilities of work-from-home, Phoenix-based employees are expected to turn their sights to Tucson. Close enough to allow for visits to the office for important meetings, Tucson offers lower housing prices, slightly lower temperatures, and a vibrant restaurant scene. SetSchedule reviews of Tucson also suggest that the city could be a good location to purchase rental properties to serve University of Arizona students looking for off-campus housing.
Seattle Continues to be Hot, Among Other WA Cities
While many cities are seeing an exodus to the suburbs, Seattle’s housing market has remained strong in 2020 and is expected to continue trending upwards. However, SetSchedule reviews of various expert opinions also show that other WA cities are trending. South of Seattle, Tacoma is experiencing a renaissance as restaurateurs, brewers, and other small businesses who have been priced out of Seattle relocate. This town could prove to be a new hotspot for young couples and families, and entrepreneurs looking for a vibrant community. Spokane, in the Eastern half of the state, is also expected to be hot in 2021.
Will Austin, TX be the New Silicon Valley?
With several recent announcements of companies relocating to Austin from the Bay Area, many experts have turned their eyes to TX. Austin was already a happening city, with a great food and arts scene and the SXSW festival. Now, with an influx of tech jobs, it’s expected that some buyers will be priced out of this market. Both San Antonio and Killeen are predicted to potentially take some of the overflow from Austin.
SetSchedule Reviews Agree With the Experts: 2021 is Going to Be Big!
Although vaccines are rolling out and there’s an expectation that life will return to “normal” sometime in 2021, experts still expect that the coronavirus will continue to boost the housing market as more people seek the security of homeownership. Low interest rates are making mortgages appealing, and some people are using the freedom of working from home to buy land out in suburban or even rural areas to build custom homes.
Some experts are calling for 2021 to be even bigger than 2020. Perhaps those who didn’t feel comfortable buying a house during the pandemic will feel safer home shopping once they’ve received the vaccine, and they may feel more financially secure once the worst of the pandemic has passed and they’re less worried about their job future.
There’s no doubt, 2020 was a tumultuous year, but many are looking to 2021 with hope in their eyes, and plans for a beautiful new home. SetSchedule reviews suggest these hot markets won’t be the only ones to see a boost in home sales and new home construction!