Everyone wants to know what Home Prices and Mortgage Rates are going to do in 2020. So we’ve gathered some of the experts predictions:
Here is a list of various predictions for 2020 from various sources-
• CoreLogic is predicting home prices will increase by 5.4% from October 2019 till October 2020.
• NAR is predicting that U.S. home prices will rise 3.6% this year.
• Freddie Mac is estimating that interest rates will average 3.6% this year.
• Fannie Mae is predicting that rates will average 3.9% in 2020.
• Realtor.com is predicting that rates will average 3.85% in 2020.
• Realtor.com is predicting that existing home sales will drop by 1.8% in 2020 to 5.23 million. Why? Not enough homes for sale as they expect inventory to “evaporate” in 2020. They are predicting that home prices will rise just 0.8% nationwide this year.
• Redfin is predicting more Bidding Wars this year. Why? Low mortgage rates will increase demand and inventories will drop as people remain in their homes longer.
• Redfin is predicting that home prices will increase 3% nationwide in 2020.
Here are some predictions for Denver’s real estate market from national “experts”-
• Zillow predicts that our home prices will increase by 1.4% in 2020.
• CoreLogic is predicting home prices increase will increase by 4% this year.
Article by Lonnie Glessner
Draperand Kramer Mortgage
1745 Shea Center Drive
HIghlands Ranch, CO 80129
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