According to 2020 Real Estate Market Predictions, if you’re considering selling your house, this could be another solid year in the Lehigh Valley, PA area and NJ for residential home sales. With growing housing demands and a limited supply of inventory, prices will continue to appreciate, while mortgage rates are projected to remain under 4%.
According to an article by Alex Maynard, this will be an interesting year for residential real estate.
Projections from the experts at the National Association of Realtors (NAR), the Mortgage Bankers Association (MBA), Fannie Mae, and Freddie Mac all forecast mortgage rates remaining stable throughout 2020:
Three of the four expert groups noted above also predict an increase in home sales in 2020, and the fourth sees the transaction number remaining stable:
Below are the projections from six different expert entities that look closely at home values: CoreLogic, Fannie Mae, Ivy Zelman’s “Z Report”, the National Association of Realtors (NAR), Freddie Mac, and the Mortgage Bankers Association (MBA).
2020 Real Estate Market Forecast
- 30 Year Mortgage Rate Projected to Remain Stable
- Home Sales Predicted to Grow
- Home Values Projected to Continue Appreciating