The highs and lows of the market seem to continue into the new year 2020.
Mortgage rates are expected to remain low and mortgage applications have increased.
More buyers will be entering the market due to the millennial surge who are at the ready-age for home buying. Housing supply could see tightening as more buyers are in demand. Developers and home builders have been preparing for the shift and are focusing on producing more smaller, starter homes for new buyers.
It is expected to see a slow rise in home prices, nationally, but some cities could see a drop or flatten, which will help the affordability issue.
Is it a good time to buy? Or is it a good time to sell? No matter your position in the market, there is room for all players. Reach out for more information or to connect with our team!