Here are a Few Predictions

Many of you may have been browsing houses for a while and wishing for a break in this overheated market. Well, here’s some positive news.

​The latest real estate reports say the market has picked back up and it's going to be another really strong year in Real Estate.

In Orange County we still have an inventory shortage. We started 2020 with a low inventory more than 33% lower than we started in 2019.

Home price growth has been steady over the years and will continue to move slightly higher as we get closer to the election in November in 2020.
New house prices are starting to moderate after seven straight years of increases, according to Zillow. Most experts see another year of appreciation.

Mortgage rates trending down, not up.
​Just when you’ve heard ten times that mortgage rates are hovering near historic lows, guess what — they edged downward through much of 2019. What’s more, Fannie Mae predicts mortgage rates will fall to an average of 3.4 percent in 2020. That gives homebuyers plenty of chances to lock in extremely affordable mortgages.

Housing supply will balance out.
​The supply of homes for sale has been really tight in recent years, and that’s one reason we’ve seen a seller’s market. But that started to reverse in 2019, leading analysts to believe that housing inventory could stabilize in 2020 - especially at the upper end of the market. That means more choices for buyers and not as much competitive pressure.

The big economic picture.
Will the long U.S. economic expansion come to an end in 2020? Some believe a recession is in the offing, but nobody really knows how long that could take to happen. In any case, there’s no guarantee that home prices would drop in your preferred neighborhoods.

The best way to get a handle on local price trends is to talk with an experienced real estate agent who has the knowledge to navigate all types of markets. Contact me or check out my website to start your buying process. I’m here to help!