Pres. Biden considered homeownership an important issue during his campaign and has already instituted some changes. Congress will likely focus on housing-related pandemic aid first and, once the disease fades, turn to other issues, such as a proposed $15K new-buyer tax credit.
Florida Realtors Dec. data: More closed sales (single-family sales up 21%, condo-townhouse sales up 27.7%), more new pending sales, higher median prices and more new listings year-over-year. Chief Economist O’Connor: Higher pending sales “strongly signal” higher closed sales into 2021.
According to top agents, 2021 stories will relate in some way to the pandemic, with the tight inventory of homes topping their list. Also: How will vaccinated sellers react? Will a lot decide to list their home this year after months of waiting? And how many homes will go into foreclosure?