Navigating the 2nd Half of 2021: Key Real Estate Market Factors to Track in Q3 and Q4

We’re halfway through 2021 and Philadelphia’s real estate market is soaring. As I examine the near-term and future performance of the real estate sector, the following are 3 factors that I’m actively tracking to navigate the second half of 2021:

1. nEnd of Foreclosure Moratorium. According to the Census, 70K+ Philadelphians believe they’ll need to leave their home due to foreclosure in the next 2 months. While the federal moratorium on evictions has been extended through July 31, its end could trigger a flood in housing supply.

2. Splintering Lumber Market. Lumber prices are plummeting as sawmill production ramps up and supply begins to match the demand propelled by home building and renovation projects. This is a positive sign that real estate inputs are responding to demand and not being propped up by inflation. While inflation is still a possible threat, it appears to be less of a factor now.

3. 70% of Philadelphians at Least Partially Vaccinated. The city met national vaccination targets two weeks ahead of schedule. This bodes well for its health and economic resilience as we enter a new normal.

Ultimately, the choice to invest is yours, and I’m here to help. Whether you’re a first-time buyer, motivated seller, seasoned investor, ambitious agent, or anywhere in between, I look forward to working together!

– Leron Grossman, Real Estate Broker & Investment Expert
VictoryRealEstateLLC.com | Office: 215-709-0909