2020 Housing Market Forecast
Based on numerous articles I’ve read recently, the housing market for 2020 will be déjà vu all over again! This past year we had limited supply, low interest rates, and high demand and not much is expected to change. In fact, the ARCH Mortgage Ins. Co. estimates 32 of the 50 states have a minimal probability of having lower home prices for the next 2 years (including NH). Core Logic predicts US home prices to increase 5.4% in the US and 7.1% in NH. There are several reasons for low inventory; more homes need to be built, the average homeowner is moving every 13 yrs. which is up from 8 yrs. in 2010, and a greater number of baby boomers are aging in place. The good news for buyers is mortgage rates are expected to remain low, around 3.8%. Bottom line, 2020 is expected to continue as a seller’s market with appreciation stronger at the lower price points. Whether buying or selling, contact me to find out how the market impacts you! 603-526-4116; www.DonnaForest.com; Donna@DonnaForest.com