2020 was certainly a year of the unexpected and unpredictable. From halted travel plans to toilet paper shortages, it’s safe to say none of us could have predicted most of the changes we’ve seen this year, including Oregon’s surging property market, which we have witnessed at a local level in Coos and Curry counties.
Through it all, our team at Seaboard has noticed a shift in our customer’s requirements. As working conditions change, we have seen clients make a move to better suit their needs. Things like multi-family living spaces, properties with fast connectivity and separate offices for remote work and school, or simply that change of scenery they’ve wanted for years and never had the time for, have all been new priorities as the year comes to a close.
Real estate trends for 2021 predict a continuation of what we have seen in 2020, including increasing house prices and a competitive market. According to MBA‘s most recent economic commentary, the silver lining is this year families should see more homes available, with more new builds expected in the first quarter nationwide, up 29 percent from last year. The MBA also expects the record low interest rates, and the affordability that comes with those, to remain for the next several years.
With so many unknowns on the horizon, Seaboard’s advice to our family, friends and community is to cast your anchor and find your place. Whether that means buying, selling or staying put, with so much time spent home, 2021 is the year to make sure your home is truly where your heart is.