Let’s try to predict what will happen in 2021!
For fun, our reader The Old Man suggested we look back at the predictions for 2020. I had guessed that sales would drop 10%, with the NSDCC median price rising 2% to 3% – here’s last year’s blog post:
The 2020 sales count is already 12% ABOVE last year’s sales, and is the highest in history – and we’re not done yet. Is it even possible to have MORE sales next year? Yes, but only if we get a surge of inventory.
This is where it gets interesting.
The number of 2020 listings was 5% below last year, and 7% below the 2018 count. If we just get back to last year’s numbers, it will feel like a surge, but it’s really just going back to normal. I think the extra 5% is in the bag, and because of the additional reasons for people to sell, we will have a surge that will blow way the recent numbers of listings.
MY 2021 PREDICTIONS:
- We will have 10% more NSDCC listings than we had in 2020.
- We will have 10% more sales.
- We will have a 10% increase in the NSDCC median sales price.
And that, my friends, is what a FULL-BLOWN FRENZY looks like.