In fact, real estate gurus predict that home prices will only rise by 2.8% in 2020. So, you'll likely see home prices continue to creep up, but they probably won't knock your socks off with rapid growth like we've seen in previous years. Real estate gurus predict that home prices will only rise by 2.8% in 2020.
After the coronavirus pandemic came into being, the housing market forecast runs the gamut from optimistic to pessimistic. It has become difficult to come up with a solid 2020 housing forecast as things are changing with each passing week. The housing market was running at a record pace in the early stages of this outbreak in February 2020, with sellers continuing to gain leverage, and buyers benefit from lower mortgage rates. We saw some of the best home sales and housing starts to pace in more than a decade until February 2020.
From what we can see, the real estate market is not going to crash.
With price growth slowing down, some folks are wondering if the housing market could collapse again. Well, it’s impossible to know for sure, but a number of factors indicate a housing crash is unlikely—as long as tariffs and trade wars don’t cause a dramatic ripple effect. But economists say we seem to be in good shape since people are spending money and new job opportunities keep popping up.
Regardless of your neighborhood, buyers are interested.
Since home prices have experienced rapid growth over the past few years, some buyers may be less choosy. In fact, determined ones might be willing to consider neighborhoods that don’t have easy access to highways or aren’t in close proximity to a big city. If you think you live in an unpopular neighborhood or believe your home isn’t what buyers are looking for, think again. Now may be your perfect time to consider selling. There are no bad areas of Nashville; all are great investments. Nashville has many unique neighborhoods and working with a trusted real estate agent like Wendy Dyes will help you find the perfect community for you and your family.