Homebuyers may have a few New Year’s wishes for the housing market: lower prices, more inventory, and continued low mortgage rates, to name a few. Experts say that continued low mortgage rates are likely, but a sudden influx of housing on the market and more affordable prices could be a tall ask for the new year.
The 2019 housing market has been one of low rates, high demand and limited supply—particularly on the lower-priced end of the market.
Will 2020 be more of the same? According to experts, yes and no.
We spoke to six mortgage, real estate, and housing professionals. Here’s what they say is in store for the year to come:
Mortgage rates will stay low—or maybe go lower.
