Home Sales Expected to Rise in 2021

CoreLogic is predicting that 2021 could be even bigger for home sales than 2020. (CoreLogic)

The construction of new homes is important to meet the shelter needs of America’s expanding population. CoreLogic public records data show that closings on single-family new-home sales were up 12% year-over-year in the six months before the pandemic hit. The pandemic derailed closings last spring, but only temporarily. [Figure 1] Completions of one-family homes rebounded by summer, remained brisk the rest of 2020, and were the highest annual total since 2007.