After a lull during the first quarter of 2020, the housing market set record-breaking growth as home buyers continued to vie for the relatively few homes on the market. Overall inventory in December was down 7% from November, the largest monthly drop since January, and 33.8% from the same time in 2019, according to Zillow.
If you’re on the fence of deciding to rent or buy (or refinance) right now, you may have many questions. Will the market change in 2021? Will home prices drop or increase? Will interest rates rise, decline, or stay the same?
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