A new decade is upon us! So what do expert analysts predict for the national housing market this year?
- The real estate market is projected to have a great year in 2020! Interest rates will be stable, as price appreciation starts to slow to more normal levels. Sales of new and existing homes will climb as more inventory comes on the market.
- Interest rates will be lower than they have been since before 1980 at 3.8% and are projected to remain steady throughout 2020!
- According to CoreLogic’s Home Price Index, home prices in 2020 will appreciate by 5.4% year-over-year. The average historic home appreciation rate is 3.6%.
- Experts predict that the number of homes sold next year will be equal to or outpace 2019.
If you’re interested in learning more about the Hilton Head Island / Bluffton area real estate market outlook, contact us to receive our 2020 Real Estate Market Analysis. Email Ashley@CollinsGroupRealty.com for a digital or printed copy, or call (843) 837-6700.
Blog courtesy of Keeping Current Matters