The real estate market in 2018 was one of the biggest in recent memory, according to an analysis by Zillow.
In the US, sales in January grew by 9.7%, while January 2019 sales in the US are expected to rise by nearly 10%.
The housing market is also expected to expand at an even faster pace in 2019, with new listings expected to top 20,000 units by the end of 2019.
In a sign that the real estate markets are starting to pick up speed, Zillows forecasts that real estate will reach new all-time highs in 2020, with the housing market surpassing $1 trillion in value by 2021.
The new all time highs will be reached by 2019, while the market is predicted to reach $10 trillion by 2022.
Zillow expects that new listings will reach nearly 20,400 units in 2020 and by 2021, that number will grow to nearly 25,600 units, the largest number in history.
The largest increase will be in sales of new homes, with an average of about 7,000 new homes a month expected by 2021 and 2024.
The US has one of three markets that are expected have the greatest growth in new listings: the Northeast, the Midwest and the South.
New home sales in all three markets will be on par with previous years, Zest reported.
New listings in the South and Northeast will also surpass past years, according the report.
The average sale price of a home in each market in 2021 is expected at $2.9 million, according Zillower.
In 2021, Zills predictions indicate the median sale price will be $2,965, up nearly $1,000 from the previous year.
Zest reported that the number of people buying homes will remain relatively stable across the three markets.
Zillowing’s new housing data comes from real estate research firm ZillOW.
The company also provided new data from realtor.com that showed the number selling homes is still relatively stable at around 1.2 million a month.