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Home buyers, builders return to core metros, but still prefer exurbs
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Is Commute Time Becoming a Housing Factor?
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Expert Predictions for 2021 Real Estate Trends Money.com 12/28/2020 © Chris Gash for Money Real-Estate-Trend-Predictions
This year has been a unique one for real estate. Though the pandemic slowed the majority of the economy down, the housing sector boomed in 2020.
In fact, it saw almost unprecedented success. Buyer demand soared (up 40% at one point), bidding wars were a constant presence, and mortgage rates bottomed out hitting a new record low more than a dozen times over, according to Freddie Mac.
The market even bucked the traditional fall slowdown, with unseasonably strong demand well into the cooler months. All this, despite an ever-worsening pandemic.