You can see how house prices barely saw any growth since the start of 2019. While the US economy continued showing signs of growth, major economies around the world slowed. In turn, consumer confidence will soften during the year, with the Conference Board’s Consumer Confidence Index estimated to decline 21 percent.Following the Federal Reserve’s monetary accommodation, inflation expectations remain modest and well-anchored, translating into a 2.0 percent year-over-year increase in 2020. The slowdown in hiring was also evident in other sectors, such as mining and logging, financial activities, as well as arts, entertainment and recreation.Government entities also reflected shifting priorities in 2019. After an extended period of flat hiring, the federal government added 45,000 new positions during the first nine months of the year.
Sellers of homes priced for entry-level buyers can expect the market to remain competitive and prices to stay firm.

Some buyers may try to gut punch you with a low number. Remember, the less desperate person always has the upper hand when negotiating!If you’re going to buy a home in this expensive market, you absolutely must find out how much house you can really afford. Local governments—enjoying rising property tax revenues—also went on a hiring spree, adding 91,000 new employees to payrolls, a 44 percent increase year-over-year.

Sales of existing homes are expected to decline 1.8 percent in 2020, as the continuing supply shortage and moderating price growth will hamper buyers and tamp down sellers’ expectations.The decline in sales is projected to be accompanied by a flattening in price growth. 10 Minute Read But there’s still a record-low supply of home listings. The labor force participation rate reached 62.8 percent in the third quarter of the year, slightly below the average rate recorded over the past decade. As a group, Millennials (those born 1981-1997) will take more than half of all mortgages next year. So, what should you do about this? The broad price moderation will continue to offer opportunities in mid-sized markets in the Midwest and South.Sellers in 2020 will contend with flattening price growth and slowing activity, requiring more patience and a thoughtful approach to pricing. Be aware of your competition.With less offers to go around, you want your home to really stand out from similar ones in your area.

In response, world currencies dropped against the US dollar, adding pressure on US exporters and sectors sensitive to currency risks.The Federal Reserve decided to change tack in light of these shifts, and responded by cutting rates 3 times, at the Federal Open Market Committee’s meetings in July, September, and October.

Markets expected at least two additional short-term interest rate increases at the outset of the year.Towards the midpoint of the year, however, the central bank’s policy shifted, in response to global changes. Accordingly, other generations’ footprint will continue to contract, with Gen X and Baby Boomers taking 32 and 17 percent of mortgage originations respectively.Sales of existing homes declined in 2018 and through the first half of 2019, as tightening inventory squeezed first-time buyers. As mortgage rates sank in March, the low rate environment gave the housing market a second wind. Okay, let’s start with home price trends. In 2020, we expect inventory to struggle to grow and could instead reach a historic low level.

Real Estate Trend #1: Home Prices Are Still Rising Slowly.

Now may be your perfect time to consider selling.Whether you’re selling or buying, you can take advantage of the current trends by partnering with a professional real estate agent. – Home price growth will flatten, with a forecasted increase of 0.8 percentEconomic activity in the United States started 2019 on an upbeat note, fueled by consumer optimism and business confidence. A mortgage is a big commitment, and adding higher interest rates to the mix will make many buyers pause.An experienced real estate agent can help you set the right expectations on how much money to sell your house for and how long you’ll have to wait for the best offer.Even though interest rates are super low, be smart and go for a conventional 15-year fixed-rate mortgage (unless you can buy with cash). This is keeping home buying somewhat competitive and allowing home price growth to stay steady.Since home prices have experienced rapid growth over the past few years, some buyers may be less choosy. The largest population cohort in the country (those born in 1990) will turn 30 in 2020, accounting for 4.8 million millennials hitting peak home buying age.

You may have to reprioritize what you want in a dream home. For the first time ever, Millennials’ share of mortgage originations will surpass 50 percent in the spring, outnumbering Gen X and Baby Boomers combined.
While the inventory of new homes in 2019 remained focused on the high-end, as the luxury market cools, builders signaled their intent to increase offerings in the mid-price segment, a much-needed shift in market dynamics.

Cities in Arizona, Nevada and Texas will continue to benefit from shoppers looking for more affordable alternatives to California.

Buyer sentiment peaked in the summer and powered sales growth in the fall. That way, you’ll know exactly what your payment will be over the life of the loan and you’ll pay it off faster!What is a millennial exactly? However, the landscape shifted quickly. ©2020 Lampo Licensing, LLC. The yearly declines are likely to be moderate and range between 1-to-5 percent for most of the year.

The market temperature is based on three metrics: the list-to-sale price ratio, the prevalence of price cuts on home listings, and time-on-market. All rights reserved. The Federal Reserve, concerned about a deteriorating global economic outlook, decided to boost liquidity in the financial system, in an effort to prevent an economic slide.The Federal Reserve moved into 2019 signaling through its forward guidance that, as the economy continued on an expansionary track, it would maintain a policy focused on monetary tightening. Inventory was on an expansionary path leading to the summer, as prices further overheated and frustrated buyers reached a point of exhaustion.

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