Realtor.com’s 2020 Housing Market Predictions – Coronavirus Update

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The economists at Realtor.com recently revised their 2020 Housing Market Predictions to take the Coronavirus Pandemic into account. They issued their update in in Mid-May as a way to gauge the “ups and downs” of the housing markets as it finds its footing in response to the Coronavirus.  Among their predictions;

  • Home price growth will flatten, with a forecasted increase of 1.1%
  • Inventory will remain low, but the rate of decline steadies and the mix of homes for sale shifts toward greater availability of lower-priced homes
  • Mortgage rates remain low and may slide under 3% by the end of the year
  • Home sales are constrained by low inventory and diminished seller and buyer confidence as the effects of COVID linger in the labor market
  • Buyers seeking affordability and space drive interest in the suburbs

Click here to read the full report at Realtor.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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