Can low inventory, low interest rates paired with strong buyer demand keep the market moving up even in the Holiday Market? In this month’s real estate report, I give my thoughts on the current real estate market as well as my housing market predictions for the remainder of 2019 and 2020.
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Typically during the Holiday Market, we see inventory tail off along with a huge drop in buyer demand but our current real estate market seems to be beating to the tune of a different drummer. By that I mean that Inventory is still holding strong along with buyer demand and low interest which is creating the recent surge in buyer demand. In layman’s terms, the market is still strong causing days on market to go down which is not typical for this time of year.
With that said, I do anticipate the market to slow a bit as we move closer to the Christmas Holidays because there are less homes coming on the market right now along with buyer demand likely slowing due to the Holidays. This isn’t something to be worried about as a buyer or seller, just understand that this is a seasonal affect that happens every year. In fact, the local real estate market is stronger right now than it has been this time of the year in the past few years.
Housing Market Prediction 2020
My real estate market forecast or housing market predictions for 2020 are much the same as we experienced in 2019. I think the market will continue where it’s leaving off right now with a lot of buyers looking for the perfect home and low interest rates that will keep driving buyer demand. I expect inventory to stay relatively low which will add fuel to the fire. With that said you will likely see a 2-3% appreciation in housing prices.
The buyers that are sitting on the sidelines waiting for a housing bubble or a collapse in the real estate market or a recession to drive housing prices lower will be sadly mistaken as they have been over the last few years as they’ve waiting on housing prices to pull back. The fundamentals of the economy continue to show signs of strength with housing being a huge beneficiary.
Are you considering buyer or selling? Do you have questions about the real estate market or my real estate market forecast / real estate market outlook? Please comment below or contact me directly.
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