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
Draper & Kramer Mortgage
1745 Shea Center Drive
Suite 400
HIghlands Ranch, CO 80129
Cell: 303.881.6374
[email protected]
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
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3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market – that way you can beat others to the best homes. Send me an email with “specific search” in the subject line and your wish list – Price range, school district, style, minimum number of bedrooms, etc. – [email protected]
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What’s the difference between a FHA loan and a Conventional loan? Send me an email – – [email protected] with “Home Loan Report” in subject field and I’ll send it right over.
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