Covid is `wildcard’ in 2021 market

The Pacific Southwest Association of Realtors (PSAR) is expecting prices for single-family homes and mortgage interest rates will climb amid Covid-19 uncertainty, making affordability an ongoing hurdle in 2021. According to Sean Hillier, a PSAR board member, “Covid is the wildcard in 2021 in the housing market. Additional lockdowns and stay-at-home quarantines will put a dent in home sales, as well as economic growth. However, a vaccine that’s readily available to the public could lead to better than expected sales.” Citing a 2021 forecast from Realtor.com, Hillier said, “With less cash and no equity, millennial and Gen Z first-time buyers will be most impacted in 2021 by a Covid-caused recession.