As the stock market declined, so did mortgage rates offering a bad new-good news situation.
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For 2020, the National Association of REALTORS’ Chief Economist, Lawrence Yun, sees good news for home prices.
“Buyer demand continues to be strong, especially given the supply constraints.”
Prices increased in year-over-year comparisons, and this will likely remain the case for the rest of the year.
Fannie Mae is predicting that continued low rates and possibly lower rates are expected in 2020.
“Nationally, buyer and seller activity remained strong, buoyed by low mortgage rates.”
“There’s a lot of interest in the housing market and how a changing economy affects one’s position within it.”
Home price growth has slowed and now more closely matches income and wage growth – a healthy development.
Despite strong buyer demand, sales totals are lower due to a lack of affordable supply
“While perhaps we won’t match the growth in the market seen over the last few years, stability and sustainability are the primary objectives.”