Year End 2020 Update

It’s been a crazy year that’s thankfully coming to a close. As I so apply heard a five-year-old put it, ”I’m sick of groceries!”

As we tiptoe into 2021, where do we expect the Charlotte housing market to go?

One by one, real estate economists are coming out with startling predictions, all forecasting growth:

  • The National Board of Realtors Chief Economist is predicting new home sales to jump 21% in 2021 along with a 9% jump in existing homes nationally.
  • Zillow is predicting annual home sales growth to be the highest in almost 40 years, forecasting 21% annual growth to almost 6.9 million homes sold (the largest since 1983). They believe that as the market begins to find certainty, economic recovery will pull people off the sidelines and send 18 to 25 years old out of their parent’s homes and back to amenity-rich cities. They also argue that this surge will drive prices up more than 10%.
  •’s Chief Economist predicts a 13.8% increase in sales in the Charlotte metro area, trailing only Sacramento, CA and Harrisburg, PA. They expect mortgage rates to rise, going from sub 3% lows to around 3.4% at years end. The new work from home environment fueled by COVID-19 should moderate, thanks to impending vaccines, but is expected to become a permanent part of our future work force. Charlotte is positioned to benefit from the “new” reality, drawing home buyers from the larger metro areas on the East Coast like New York City, Boston, and even Washington, DC.

Our team had a great real estate year as we helped people buy and sell across the city. We also added another experienced realtor to the team this fall! Robbie Horne joined the group and we are thrilled to have her.

Wherever we end up in the new year ahead, Wood-Williams Realty can help. We live and breathe the Charlotte market, have some great listings coming up, and have clients searching for just the right home. So if you are thinking of selling your home or looking to buy one, please give us a call.

Cheers and Happy New Year!