If you think home prices across the nation are stabilizing, you may have to think twice. According to a recent MarketWatch article, home prices are expected to increase by the 3rd Quarter of 2020. These predictions are based off the incredibly low interest rates, which will help bolster the demand for homes nationwide.
According to the S&P CoreLogic Case-Shiller index for home prices, home prices only grew 2.1 percent in June 2019, approximately one-third of the growth rate experienced the previous year. Connecticut and South Dakota are the only exceptions to the upward trend of housing prices.
What does this mean for Real Estate Agents?
Home prices increasing in 2020 will have an immediate impact on markets all over the country.
Simply put, if you have buyers interested in a home for condo for sale, NOW is the time for them to buy! These statistics, combined with the super low interest rates and the rapid-rising of rent all over the country, this is the perfect time for Americans to buy their first (or next) home!
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