Expert Insights on the 2020 Housing Market

Dated: December 31 2019

Views: 87

Expert Insights on the 2020 Housing MarketExpert Insights on the 2020 Housing Market

When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue.

Here’s what three experts are saying we’ll likely see in 2020:

Danielle Hale, Chief Economist at realtor.com

“I think the biggest surprise from the forecast is how long the market is staying in this low inventory environment, especially as Millennials are in a major home-buying phase…sellers will contend with flattening price growth and slowing activity with existing home sales down 1.8%. Nationwide you can look to flat home prices with an increase of less than 1%.”

Mike Fratantoni, Chief Economist at Mortgage Banker Association (MBA)

“Interest rates will, on average, remain lower…These lower rates will in turn support both purchase and refinance origination volume in 2020.”

Skylar Olsen, Director of Economic Research at Zillow

“If current trends hold, then slower means healthier and smaller means more affordable. Yes, we expect a slower market than we’ve become accustomed to the last few years…consumers will continue to absorb available inventory and the market will remain competitive in much of the country.”

As we can see, we’re still going to have a healthy market. It is forecasted to be a more moderate (or normal) market than the last few years, but strong enough for Americans to continue to believe in homeownership and to capitalize on the opportunities that come with low interest rates.

Bottom Line

If you’re wondering what’s happening in your market,get in touch today! If you'd like to know what your home is worth right now, head over to sell.metrowesthomes.net

From Keeping Current Matters

Blog author image

Aaron Pyman

I came to a career in real estate as a graduate of Northeastern University with a 20+ year career in business-to-business sales. Having honed my skills at discovering and meeting customer needs for ma....

Latest Blog Posts

Despite a Dip in March, Home Sales Push Ahead

April 21, 2020While existing-home sales dipped in March as the COVID-19 pandemic sparked stay-at-home restrictions across the country, they're not far off from the numbers a year ago, and home

Read More

Where Have All the Houses Disappeared To?

If you’re following what’s happening in the current housing market, you’ve seen how the lack of newly constructed homes is a major reason there’s a shortage of housing 

Read More

Homes Are More Affordable Today, Not Less Affordable

Homes Are More Affordable Today, Not Less AffordableThere’s a current narrative that owning a home today is less affordable than it has been in the past. The reason some are making this claim

Read More

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing MarketWhen closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we

Read More