2020 was a surprisingly strong year for housing. If underlying dynamics continue as we anticipate, 2021 is likely to be even stronger. Home sales and price growth quickly re-accelerated after a brief pause in the spring, and housing became a silver lining in what has otherwise been a tumultuous year for the economy.
As has been the case for several years, the U.S. housing market continues to feature limited supply and strong demand. Inventories remain tight. This coincides with increasing d