January 7, 2020
Unemployment is at a 50-year low and interest rates are below the average, so what is the forecast for the 2020 housing market? Realtor.com expects inventory to dissolve as the industry lacks housing stock, particularly at lower price ranges. Low inventory combined with low mortgage rates means the housing market will be more competitive and push price growth at the beginning of the year. Zillow.com expects home value growth to slow in 2020. However, Skylar Olsen, Zillow’s director of economic research advises, “But don’t mistake this for a buyer-friendly environment. Consumers will continue to absorb available inventory, and the market will remain competitive in much of the country.” Highland Development Company focuses on bringing attainable, uncommon communities to the market and will continue to do so in 2020 and beyond. Stay tuned for updates on our Coming Soon projects to learn more, and check out the Washington Post’s take on the 2020 housing market here: https://wapo.st/2FpHPz1