Real Estate Market Forecast 2020

Real Estate Market Forecast 2020
#realestatemarketforecast2020 #RealEstateMarketForecast #2020OutlookRealEstateMarket

Wondering what is the Real Estate Market Forecast for this year?
Here’s where experts predict the housing market is headed in 2020 and beyond.

HOME PRICES WILL KEEP RISING
Economists predict U.S. housing prices will continue to rise, regardless of a recession if any. CoreLogic forecasts a faster rate of growth for home prices in 2020 than we saw in 2019.Low interest rates and a shortage of starter homes will continue to push up prices.

INVENTORY CONSTRAINTS WILL CONTINUE
Americans are staying in their homes longer. In 2019, the average homeowner had resided in their home for 13 years, up from just eight years in 2010. Expect inventory to struggle to grow and could instead reach a historic low level in 2020.

What does it mean for you? If you’re looking to buy a starter home, be prepared to compete for the best listings.

MORTGAGE RATES WILL REMAIN LOW
Mortgage rates have declined more than a full percentage point since November 2018, when they hit a recent peak of 4.94%.9 The Mortgage Bankers Association predicts rates will remain low, at around 3.7%, through mid-2021.10

MILLENNIALS WILL DRIVE THE MARKET
Millennials are expected to account for more than half of all mortgages this year, outnumbering Generation X and Baby Boomers combined. A new model for suburban living has emerged. “Hipsturbias,” or mixed-use communities that bring the live/work/play concept to the suburbs, were recently named one of the top real estate trends for 2020 by the Urban Land Institute.

What does it mean for you? If you’re a millennial who has been priced out of urban living or is looking for more space for your growing family, a number of suburbs in our area have a lot to offer.

WE ARE HERE TO GUIDE YOU
If you’re considering buying or selling a home in 2020, or, if you want to talk to about anything real estate related, contact us now to schedule a free consultation, we’ll work with you to develop an action plan to meet your real estate goals this year. Call/text 786-412-8510, or 📩 [email protected], Kate Smith, Hollywood FL.

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If you want to talk to about anything real estate related you call call/text 786-412-8510, or email: [email protected] Kate Smith, Hollywood FL

🏡 REAL ESTATE PROPERTY SEARCH: To search all homes, investment properties and commercial real estate, or set up a search update on the hottest new listings, visit:
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