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BIA & INDUSTRY NEWS

Experts Predict What the 2021 Housing Market Will Bring

1/25/2021

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The Washington Post | Kathy Orton - ​A bright spot in an otherwise dreary 2020 was the residential real estate market. After briefly retrenching at the beginning of the pandemic, home sales soared. A lack of homes on the market and low mortgage rates caused prices to skyrocket. Rising prices lifted home values, creating more wealth for homeowners.

But not everything was rosy. As of this month, 5.2 percent of mortgages, or 2.7 million, are in forbearance, according to Black Knight, a mortgage data and technology company. That represents $547 billion in unpaid principal.

Many experts are predicting another strong housing market in 2021. They are forecasting increased demand from buyers who delayed purchasing homes because of the pandemic; from existing homeowners who need larger spaces to accommodate parents working from home and children attending school virtually; and from condo owners who are seeking to escape multifamily buildings for single-family houses to mitigate exposure to the virus. The ability to tour homes and close on purchases virtually will make buying a home simpler in 2021.

To read the full article on The Washington Post website, click here.
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HONOR ROLL MEMBERS (as of 4.12.22)

ASSOCIATES: 1st Choice Insulation | A-1 Interior Trim, LLC | Applied Waterproofing, LLC | Bardenwerper, Talbott & Roberts, PLLC
|
Berkshire Hathaway Home Services, Parks & Weisberg Realtors | Builders First Source | Caliber Home Loans
| Complete Transfer, LLC | Corrigan Electric Co. | Cunningham Door & Window | Derby City Concrete Construction | Door Store and Windows | ECS Southeast, LLP | Fireplace Distributors, Inc.| Jones Landscape + Design | Lincoln Insurance Agency, Inc. | Mattingly Ford Title Services | Quality One Steel Design Inc. | River City Foundation, LLC |
 Ruoff Mortgage | Sam Kinnaird's Flooring Outlet, Inc. | Screens of Kentucky, LLC | Wilson & Muir Bank & Trust Company 

BUILDERS: Clifford (Josh) Thieneman, Clifford Thieneman Co., LLC. | Dan Smith, Stonelake Homes, LLC |
Perry Lyons, P.L. Architectural Builders ​| Tom Waller, Tom Waller Signature Homes | Rich Heareth, Perfection Builders
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  • Home
  • Member Services
    • Pay My Bill
    • Find a BIA Member
    • Why Join BIA as an Associate Member?
    • Why Join BIA as a Registered Builder or Remodeler?
    • Become A Member
    • Sponsorships
    • BIPAC
    • Member to Member Emails
    • BICF
    • Publications
    • BIA Staff and Board of Directors
  • Registered Builder & Remodeler Program
    • Why Choose a Registered Builder or Remodeler?
    • Checklist for Hiring Registered Builders or Remodelers
    • Finding the Right Builder or Remodeler
    • Why Join BIA as a Registered Builder or Remodeler?
    • Find a Registered Builder
    • Find a Registered Remodeler
    • Find an Industry Professional
    • Greater Louisville Relocation Guide
    • Request for Conciliation
  • Events
    • Member Events
    • Public Events >
      • Homearama 2022
      • Tour of Remodeled Homes
    • BIA Calendar
    • Event Protocols
  • EDUCATION
    • BIA Calendar
    • Class Descriptions and Rules
    • Education FAQs
  • News
    • BIA Members In The News
    • BIA & Industry News
    • BIA Social Media
  • Job Board
  • Building Institute of Greater Louisville