Expert 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 our local market, let’s get together today.
Does Home Insurance Shield Hurricane Damage?
Dwelling and personal property coverage repair your home and replace belongings, subject to policy limits and deductibles. Hurricane deductibles differ: Typically 1–5% of dwelling coverage, significantly impacting your out-of-pocket costs.
Utah rent increase proposal fails for third year in a row
A bill in Utah aimed at requiring landlords to provide 60 days' notice for rent increases was rejected for the third consecutive year, with a tied vote in the House Business, Labor, and Commerce Committee. Supporters argued it would benefit renters, but the...
Happy Presidents’ Day
Presidents' Day celebrates all past and present U.S. presidents. It reflects on the nation's founding principles and values, including the Constitution and union. Reading of Washington's Farewell Address by a U.S. senator remains an annual event for...
Utahns agree housing is a problem. What they don’t agree on is why
A recent survey by Envision Utah reveals that over two-thirds of Utah residents believe the state faces serious housing issues, yet many are unclear about the causes. Key factors identified include rising interest rates, construction costs, and an influx of new...
Fannie Mae’s 2025 Housing Forecast
Mortgage rates remain above 6%, with slight home price growth and low supply continuing to pressure affordability. Existing home sales expected to recover slightly from multi-decade lows due to limited inventory and affordability barriers.
Happy Valentine’s Day
Valentine’s Day occurs every February 14 around the world, and candy, flowers and gifts are exchanged between loved ones, all in the name of St. Valentine Valentine greetings were popular as far back as the Middle Ages, though written Valentine’s didn’t begin to...
How to Invest Globally in Real Estate
Investing globally in Real Estate requires understanding market dynamics, including rent growth and job creation trends.Tap into local expertise, including brokers, property managers, and market analysts, to gain on-the-ground insights.
Looking to Sell a Home in 2025? Take These 5 Steps
Start by researching and interviewing realtors knowledgeable about your local market before selling.A fresh home makeover, including new paint and flooring, boosts appeal and first impressions.
Homeowner Tax Breaks: All the Ways Your House Can Boost Your Tax Refund
Owning a house in the US is expensive, with rapidly rising home prices and hidden expenses. However, tax credits and deductions for homeowners can lead to a bigger tax refund. Homeowners can take advantage of tax deductions by itemizing their deductions using Form...
How 2025 Trends Fuel Homeownership Potential
Home sales may rise 1.5%, prices climb 3.7%, and mortgage rates stay above 6% despite slight cuts. A historic 11.7% home inventory jump and 13.8% new construction surge mark supply resurgence in 2025.