By Jay Taylor | InMaricopa
Home builders were active in 2020, and there is no reason to expect that to change in 2021, says a regional economist. Google Maps image
Homeowners in Pinal County looking for signs of what is to come in the housing market can rest easy, according to a leading expert on the regional economy.
Noted Valley economist Elliot D. Pollack, in his 14th annual forecast on the greater Phoenix market, said all indications point to a continuation of the booming real estate market. He spoke Friday to members of Pinal Partnership, making his first virtual presentation.
“The economy will normalize in the second quarter of 2021 due to having COVID-19 vaccines in wide distribution,” he said. “There is significant pent-up demand in the real estate market, and people are sitting on gobs of cash because they’ve had nowhere to spend it for the past nine months, so we will see explosive growth at first, then continue to grow at above normal trend lines through 2023.”
