What Buyers & Sellers Should Know About the 2020 Market

Here’s what we expect from our 2020 market.

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Where’s our real estate market headed in 2020?

In 2019, one out of every 10 offers was part of a multiple-offer situation. Next year, experts predict that ratio to increase to one out of every four offers. That is a huge difference, and it also demonstrates why it’s important for anyone buying a home next year to hire an agent who can handle multiple-offer situations and help you come out on top. 

If you plan on buying in 2020, you also need to prepare for more competition. Interest rates are expected to hover around 3.8%, which means more buyers will enter the market to take advantage of these low rates. 

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   We’re looking at a nationwide home price increase
of 6% over the first half of the year.

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Inventory is expected to be low too, which means we’re looking at a nationwide home price increase of 6% over the first half of the year. Once this happens, more homeowners will want to list their properties, and more builders will want to start building. With this increase in sellers, we expect conditions to balance out toward the end of 2020.

My team and I are experts when it comes to multiple-offer situations, and we’d love to help you achieve all of your real estate goals in 2020. If you have any more questions about our future market, don’t hesitate to reach out to us. We look forward to hearing from you.