With figures just being released by the Federal Housing Finance Association (FHFA) for the final quarter of 2019, it’s time to take a look at how the market is performing – from the bigger picture at national level, through regional trends and right down to what’s happening in Niwot.
With all of the volatility in the stock market and uncertainty about the Coronavirus (COVID-19), some are concerned we may be headed for another housing crash like the one we experienced from 2006-2008. The feeling is understandable. Ali Wolf, Director of Economic Research at the real estate consulting firm Meyers Research, addressed this point in a recent interview:
It’s a New Year and as always – people ask me what I see upcoming for 2020. How is the market going? what’s going to affect house prices, time on market, investments.
There are several factors at play but here are my top 5 trends for real estate in 2020:
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.
Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020.
Below is a chart depicting the projections of each entity for 2019, as well as for 2020.
