2021 Year-In-Review Residential Market Update
On January 19, CTAR hosted its annual Residential Market Update featuring Dr. Joey Von Nessen, Economist with the Moore School of Business at USC. In his presentation, Dr. Von Nessen shared a positive forecast for the 2021 market, however cautioned that due to the record-breaking sales and price increases in 2020, market activity may appear to level out in 2021. He shared that this should not be considered a decline or leveling out of the market but a sign of sustainable progress.
Dr. Von Nessen cited ongoing historically low inventory as a challenge in the local market, while demand remains high.