Bold 2021 Predictions: A Stronger Housing Market Across the Board
The for-sale housing market showed incredible strength in 2020, and we expect 2021 will be even stronger.
Renting
The stage is set for an expected takeoff in sales, continued recovery in the rental market and another 10% growth in home values in 2021.
What Moved Us: Stories that Shaped the Year in Real Estate
Home became more important than ever in 2020. Kitchen tables became classroom desks, basements turned into offices and backyards became sanctuaries.
Renters Staying in Cities and Suburbs Despite Pandemic, Turning Savings into Upgrades
Enterprising young renters seem to be taking the opportunity of softening rent growth to come back to the market and score a deal on a nicer apartment.
After Years of Decline, Household Formation Rates Were Improving Pre-Pandemic. Now What?
There would be some 5.7 million additional households today if Americans formed households at the same rate they did in 2006.
Working From Home Could More Widely Benefit Black Renters Seeking Homeownership
Black renters are 29% more likely than other renters to potentially be able to move and buy a first home because of the rise in telework.
A Third of Rental Listings are Offering Concessions — And it Appears to be Working
Almost half of Gen Z renters that moved recently said they were motivated to do so because their new rental offered promotions or concessions.
Record Low Mortgage Rates Boost Affordability, But Mask Down Payment Difficulties
Ultra-low mortgage interest rates are keeping monthly payments remarkably affordable, but don't ease the burden of saving for a down payment as prices rise.
Zillow Weekly Market Report, Data Through Oct. 17
Inventory keeps hitting new lows, and prices keep getting higher. Pending sales are slowing after a hot few months.
August 2020 Market Report and Zillow Weekly Market Report Through September 12
Low inventory pushes home values to highest monthly increase since 2013 and low demand pushes rents lower in August monthly housing data.
