2020 is a Seller’s Market in Housing

2020 is a Seller’s Market in Housing
Jeffrey Viksjo CFA

Jeffrey Viksjo CFA

If you are thinking about selling your home (or buying a new one), keep this in mind: the number of existing homes for sale nationally has reached a nearly two-decade low, according to the National Association of Realtors.  Basic economics suggests this will continue to push housing prices higher, as buyers compete for a very limited supply of homes for sale.

At the same time, mortgage rates are hitting multi-year lows.  This will ensure demand for homes stays brisk, as lower mortgage rates makes homes more affordable.

For those selling your home, this could mean you will be able to get a higher price than you think.

 

Source: National Association of Realtors, via the Daily Shot (WSJ)