Every year around this time there are two highly predictable and humorous events that unfold: 1) We all get out our stretchy pants and wear them a little less than proudly (but very comfortably!) and 2) The real estate forecasts roll in as if we can actually tell exactly how things are going to unfold.
In reality, we are firm believers that knowledge IS power, and we encourage you to stay apprised of the real estate projections for next year and consider your short- and long-term goals accordingly. We are also however, realists, and we know that in real estate just as in life – there are no guarantees. In addition to the general themes and considerations outlined in the resources below, we advise taking into account the micromarket trends of your local community, as well as create a list of what your top 3 lifestyle priorities are for 2020. We are always here to help you assess how the steps you take today can help create the life you want to lead tomorrow – whether that means buying or selling or believing everything you read or not. Let’s catch up by year end… we know it has been a wild one!
IN THE NEWS: REAL ESTATE 2020
Click on titles to read articles in full
FORBES: EXPERT PREDICTIONS FOR MORTGAGE RATES, HOME PRICES, TECH AND MORE
The team at Forbes chatted with six mortgage, real estate and housing professionals and broke down the outlook by the areas of mortgage rates, home prices, inventory levels, generational discrepancies and community types. And no surprise… they touch on disruption and digitization too.
HOUSINGWIRE: HOUSING TO HELP FUEL ECONOMIC GROWTH IN 2020
In this just-released report (two days ago as of this publication!), discover how Fannie Mae upgraded it’s economic outlook via new GDP calculation and defined housing as a positive contributor to growth in the near future.
RIS MEDIA: 5 REAL ESTATE TRENDS TO WATCH IN 2020
The most discerning piece of this article, in our opinion, is the data describing generational shifts in terms of the Silver Tsunami and Generation Z. The return of the suburb portion is also a recurring theme which makes sense as more millennials have turned 30 and are starting families.
HOME BUYING INSTITUTE: U.S. REAL ESTATE PREDICTIONS FOR 2020 SUGGEST MORE OF THE SAME, MOSTLY
This one is definitely a noteworthy read which succinctly summarizes the expected increase in home sales to 6.1 million properties in 2020, as well as reiterates the ongoing nationwide inventory challenges that have and will continue to constrain the market.
CURBED: THE 10 TRENDS THAT WILL SHAPE REAL ESTATE IN 2020
As a compilation of insights from Urban Land Institute and PricewaterhouseCoopers researchers, these trends include how ‘analysts don’t see the same oversupply or over-leverage issues that caused a panic and set off the Great Recession’ and touch upon everything else such as the capital market’s ‘paradox of plenty’, the continuation of community-oriented development and so much more.
Whew… we know that is a lot of information! If you would like us to give you our own simplified synopsis and apply it to your own goals – give us a call or stop by any time!
All our best,
Mark & Sarah
Mark Barber & Sarah Healy
408-291-0072 / 408-290-0730
DRE 01220031 / DRE 02061586