Fannie Mae Expects Strong But Slower Georiga Housing Market in 2021
Fannie Mae, according to a recent report, expects higher interest rates in 2021, which could soften demand for new homes and lead to a 10 percent reduction in home sales. The housing market, however, should remain strong throughout the year as new buyers enter their peak home buying years, mortgage interest rates- though higher- remain historically low, and the supply of new homes currently under construction become available. The ongoing Covid 19 pandemic will continue to influence the housing market as well. Supply limitations may lessen as more home owners who previously delayed listing their homes for sale due to the pandemic may be more willing to move as Covid vaccinations become more widespread.
Peachtree Mortgage Services, Inc. offers home mortgage loans on purchases and refinances throughout the state of Georgia. Contact us at peachmtg@bellsouth.net or 770.481.0052.
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.