Move or Improve in 2021

This is the title of our featured interview for today, but it could also apply to our Replay – a kitchen expansion, complete with a “lift” to prevent Leslie’s aging mom from falling while going up and down the stairs. The bonus for this multi-generational family was the expansive back yard view they gained from the removal of a load-bearing wall to enlarge the kitchen. In our Horror Story today, we discuss water damage that resulted across many parts of the country this winter from ice damming. This is a common problem when ice shield is not installed properly under new shingles. We’re going to talk more about proper roofing practices , when we interview two top executives from GAF in our April 15 release. In our Featured interview with Nadia Evangelou, Senior Economist and Director of Forecasting for the National Association of Realtors®. Nadia advises that some trends sparked by COVID are here to stay – like teleworking – which enables two-earner families to move away from cities and drives the need for more office and living space. Nadia expects telework to continue, with a hybrid model developing where people commute to the office only a few days a week. Nadia predicts that inflation will not go beyond 2% this year and mortgage rates will stay relatively low…two factors should drive new home purchases. However, she explained new and existing home inventory is at a very low point, driving higher prices and a seller’s market. Nationally, millions of new homes need to be built. These factors, plus international problems with the supply chain also complicate the decision to stay in place and improve. The supply of lumber, windows, doors, appliances have all been affected, causing shortages and driving up prices.

Move or Improve in 2021?
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