This Story comes from https://www.cleveland.com/ and it shows that the housing prices are still heading north. Homes are seeing growth in pricing because of the inventory and interest rates.
"The average sale price last month in Cuyahoga County was $252,763, a 24.5% increase over the $202,995 average sale price from June 2020, according to the Independence-based service’s data. Homes in the county stayed on the market for an average of 31 days before being sold, while in May 2020 the average was 53 days."
The other factor that will keep home prices up is new construction. Building materials have seen a sharp price growth and that will also affect home prices.
The government is also signaling that they are going to have some forbearance programs to get homeowners assistance on their mortgage payments.
Even if that did not happen most homeowners have equity and should be able to sell their residence and make a tidy profit.
I see this real estate market staying the same through 2022. If the economy is shut down again that will also really affect inventory and prices will go up also.
Either way Real Estate in the right areas should grow in equity and create a nice profit for homeowners and or investors.
Need to sell your home? Call me (Brett) 216-703-5740 or
Text "Info" to +12164555264
Brett Young
MEGA Million Dollar Producer
216-703-5740
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Thank you