2020 Housing Forecast

Posted by Thomas Echea on Wednesday, February 19th, 2020 at 12:15pm.

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. 

Essentially the NAR forecast for 2020 is nearly identical to the market conditions seen in 2019. 

The big question most consumers are asking: When will the best time to buy—or sell—real estate be? 

The answer: Whenever you need to! It’s always a good time to transact real estate! 

If you have any questions, just give me a call anytime at (305) 431-4745 and let’s discuss your best options with the forecast in mind.

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