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The 2020 Real Estate Projections That May Surprise You

Dated: 01/13/2020

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The 2020 Real Estate Projections That May Surprise You

The 2020 Real Estate Projections That May Surprise You

This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen in the 2020 U.S. housing market can be challenging. As a result, taking a look at the combined projections from the most trusted entities in the industry when it comes to mortgage rates, home sales, and home prices is incredibly valuable – and they may surprise you.

Mortgage Rates

Projections from the experts at the National Association of Realtors (NAR), the Mortgage Bankers Association (MBA), Fannie Mae, and Freddie Mac all forecast mortgage rates remaining stable throughout 2020:The 2020 Real Estate Projections That May Surprise You | Keeping Current Matters

Since rates have remained under 5% for the last decade, we may not fully realize the opportunity we have right now.

Here are the average mortgage interest rates over the last several decades:

  • 1970s: 8.86%

  • 1980s: 12.70%

  • 1990s: 8.12%

  • 2000s: 6.29%

Home Sales

Three of the four expert groups noted above also predict an increase in home sales in 2020, and the fourth sees the transaction number remaining stable:

The 2020 Real Estate Projections That May Surprise You | Keeping Current Matters

With mortgage rates remaining near all-time lows, demand should not be a challenge. The lack of available inventory, however, may moderate the increase in sales.

Home Prices

Below are the projections from six different expert entities that look closely at home values: CoreLogic, Fannie Mae, Ivy Zelman’s “Z Report”, the National Association of Realtors (NAR), Freddie Mac, and the Mortgage Bankers Association (MBA).Each group has home values continuing to improve through 2020, with four of them seeing price appreciation increasing at a greater pace than it did in 2019.The 2020 Real Estate Projections That May Surprise You | Keeping Current Matters

Is a Recession Possible?

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Vicki Stallworth

As a former Illinois native, Vicki decided it was time for a change. She moved to Mississippi in 1990 and became a Reserve Police office for 7 years. She has always enjoyed being an active community....

1 comments in this topic

  • Posted by Terry Smith
    01/14/2020
    Vicki was our realtor when we were looking for a home. She is a professional and is knowledgeable about the area. She listened to what we were looking for in a home and made the stressful time of home hunting easier and actually fun. I would strongly recommend contacting Vicki if you are wanting to buy or sell.\r\nTerry Smith, Gulfport MS.

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