Forecasting the future isn’t easy. But, at the end of each year, economists, experts, and analysts use various trends and indicators to make their best predictions for what will happen over the next 12 months. So what are they saying about housing market conditions in 2020? Well, the earliest forecasts are positive. In fact, according to Freddie Mac, the housing market is among the only parts of the economy that looks solid. “Economic growth has slowed significantly across the globe, but the slowdown has been more muted domestically,” Sam Khater, Freddie Mac’s chief economist, said. “However, the housing market remains on solid ground with housing starts, building permits, existing home sales, and new home sales all outperforming the broader economy.” That’s good news, but particularly for anyone thinking of buying or selling a home in the next year. Freddie Mac expects mortgage rates to remain low, price increases to continue to slow, and home sales to beat this year’s totals. In short, the housing market should remain on solid ground despite signs that an economic slowdown is on the horizon. More here.
