The National Association of REALTORS® released its annual National Housing Forecast. It’s detailed, just as you would expect from a group of top economists, with a lot of valuable data within.
Here's a summary of a few valuable insights from the forecast:
- Mortgage Rates: Rates will remain low and affordable, anticipating a slight increase from 3.85% to 3.88%.
- House Prices: Prices will remain level, as they did in most markets during 2019.
- Housing Inventory (available properties): Inventory will continue to be limited, especially at the entry-level prices in most markets.
- Buyer Trends: Buyers will continue to see affordable options which benefits mid-sized markets and has people moving out of major metropolitan areas.