Housing projections for 2020 & beyond
Looking into their crystal balls, real estate experts share these predictions and trends:
- New home starts will continue to lag behind consumer demand, especially among millennials. Based on statistics from the past three years, the supply of homes will remain tight as the number of new households and demolition of run-down properties outpaces the rise in new construction.
- While some fear an inevitable economic recession on the horizon, most economists see a stable leveling off of the housing market, but not another crash similar to 2007-2009.
- Austin ranks No. 1 among the fastest growing cities in America. Driven primarily by tech growth, many smaller metros such as Raleigh-Durham, Indianapolis and Portland are also trending in the nation’s top 20.
- Walkable, urban senior living condos and smaller homes are one real estate market where many predict consistent growth thanks to the health and wealth of baby boomers.
For more information on the 2020 real estate forecast and what that means to you as a seller or buyer or both, please call, email, or text me anytime.
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Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First-Principal Broker, Washington First-Managing Broker
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