2020 is coming in fast! Can you believe it? It’s hard to say where the last year has gone. In preparation for the upcoming year, we thought it would be a good time to share with you some thoughts the housing market may face next year.
One hypothesis is that there will be a shortage of homes on the market, especially homes not incredibly expensive. Realtor.com suggests that inventory may reach a historic low, especially for entry-level homes. And although the production of homes has increased a bit, it will not be able to meet the demand.
The forecast for interest rates is expected to continue to stay low and move forward throughout the year. Although this can be not confirmed, as we cannot tell the future, many different outlets are in agreement.
Keep in mind that 2020 is an election year. This means anything can truly happen! No matter which side of the market you are on, it is important to be educated before making any decisions.