•  2 Critical Threats to Housing Affordability in 2021

    After posting staggering growth rates for new and existing home sales in the fall, the housing market leveled off at the end of 2020. The demand-side of the sector remains robust and inventories are lean. However, home price growth and rising construction costs threaten housing affordability heading into 2021.

    The overall macroeconomic outlook is expected to improve this year, with gains for GDP growth (after an estimated 3.6% drop for 2020) and incremental labor market improvement yielding an unemployment rate approaching 5% during the second half of the year.

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