This year the housing market will be defined by 3 things- interest rates, inventory, and appreciation. But the biggest issue the housing market will face in 2020 is the inventory shortage. There aren’t enough homes on the market for
buyers, especially on the lower end of the market. This is a topic that has come up more frequently within the past months.
Based on what is to come, we know that interest rates are projected to stay low and that appreciation is expected to continue as we are in 2020/ Additionally, the upcoming election will provoke many unique perspectives on the health of the US housing
market. The challenge will be understanding what is actually happening and how you can best position yourself if you are thinking of buying or selling your home.
The most important thing you can do is understanding what is happening in your local market by connecting with a real estate agent. You may not be able to avoid the issues brought on by low inventory, but you can be more prepared and educated.