The holiday season has arrived, so it’s time to reflect on last year’s real estate predictions before we share our predictions for the coming year. As you’ll see below, our crystal ball was accurate with a few of our 2020 real estate predictions and off the mark with a few others.
Where our crystal ball got it wrong
Last year we predicted flat home sales when in fact sales have been rising. We predicted a 3% rise in prices, but prices have risen by more. In 2020 we anticipated an increase in expired listings and the days on market, but that has not been the case, either. We also predicted a decrease in competing offers, but that has failed to materialize, too. In short, the market has outperformed all of our expectations in 2020.