Real Estate in 2020

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Real Estate in 2020

Close up of man hand giving house keys to woman. Smiling mature woman receiving new house keys from real estate agent. Man delivering keys to client for new home. Real estate agent giving keys to apartment owner.

2019 has been a year of low mortgage rates and relatively high demand for the housing market. As the year winds down, many experts are beginning to focus their attention on trends we can expect to see in the coming months. Keep reading to learn what you can expect in the new year.

Mortgage Rates

It looks like mortgage rates will remain low, and possibly even dip lower in the year ahead. In 2019, the average monthly rate was about 1% lower on average than the previous year, boosting the market and causing people to buy and refinance homes more than usual. These trends should remain constant in 2020 thanks to mortgage rates remaining low.

Home Prices


In 2019, the average price of homes increased slightly, a trend that is projected to continue in. Because demand has been steadily increasing the last several years while the supply remains the same, homes are becoming commodities in certain areas. Plus, affordable housing will be at a premium, with prices that may rise at a faster rate than incomes. Therefore, you can expect to see prices rising in the new year.

Mortgage Rates


It looks like mortgage rates will remain low, and possibly even dip lower in the year ahead. In 2019, the average monthly rate was about 1% lower on average than the previous year, boosting the market and causing people to buy and refinance homes more than usual. These trends should remain constant in 2020 thanks to mortgage rates remaining low.


Home Prices


In 2019, the average price of homes increased slightly, a trend that is projected to continue in. Because demand has been steadily increasing in the last several years while the supply remains the same, homes are becoming commodities in certain areas. Plus, affordable housing will be at a premium, with prices that may arise at a faster rate than incomes. Therefore, you can expect to see prices rising in the new year.

Millennial Homebuyers


It is projected that millennials will continue to buy homes more than any other generation in. However, baby boomer might make it difficult–they are not selling their houses at the same rate that millennials are purchasing homes. Therefore, areas that are appealing to millennials, like suburbs, will be at a premium for those looking to put down roots for the first time.


Changes in Technology


Because millennials are becoming such a large audience in real estate, you can expect the industry to become more digital and technology-driven in the coming year.

Younger potential


homebuyers appreciate having information at their fingertips and want to maximize the use of their time, so traditional pen-and-paper methods of purchasing homes may switch over the digital options in 2020.


Ultimately, the real estate market is projected to grow in the coming year, with low mortgage rates, rising prices, a larger generation looking to buy homes, and a more digitized real estate market.


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