The lack of inventory will be the biggest story in housing this year, said real estate professionals recently surveyed by HomeLight, a real estate referral company. HomeLight’s Top Agent Insights report, conducted in the fourth quarter of 2020, reflects responses from more than 1,000 real estate professionals nationwide.
What issues are top-of-mind for real estate professionals for 2021? Survey respondents identified seven key trends expected to affect housing the most in the new year, according to the HomeLight survey:
- Inventory shortages.
Eighty-four percent of the real estate professionals surveyed said that inventory was lower than they expected at the end of 2020. The National Association of REALTORS® reports that inventory levels in November were down 22% compared to a year ago. Real estate pros in the South Atlantic surveyed by HomeLight were most likely to cite a lack of inventory as the top factor affecting their housing markets in 2021. Midwestern agents were the least likely to cite inventory woes.