It is that time of year when all the experts come together to talk about the forecasts for the new year. If you are thinking of listing or buying homes for sale in Incline Village, NV, you definitely want to read on. While these trends and forecasts are a projection for the U.S. as a whole, they do trickle down and impact regional markets, even second home resort markets like Incline Village Real Estate.
Experts are expecting another year of record low mortgage rates. In fact the projected mortgage rate for 2020 is less than 4%, which is significantly less if you look at rates historically. Buyers, this is a great time to secure a mortgage rate and start looking at homes for sale in Incline Village. The lower your rate, the more buying power you have within your budget. Sellers, when rates are this low, demand is usually higher which means you can get a great offer on your Incline Village real estate. If you have been thinking about listing, chat with your Incline Village Realtor.
Experts are predicting that home values will continue to increase throughout the year. Buyers, with this news, it is recommended that you start your buying journey earlier on so you can take advantage of lower prices AND lower mortgage rates. Sellers, with these two factors, demand isn’t expected to be a problem.
While inventory is an issue all over the United States, home sales are expected to increase. According to most experts it isn’t expected to be by a lot compared to years past, but it is projected to go up.
What about a recession?
Despite an early projection in 2019 that there would be a recession in 2020, the economy has remained strong which has caused experts to lower their probability. Additionally, most agree that it won’t have an impact on the housing market.
For more information on buying or selling Incline Village Real Estate or to speak with an Incline Village, NV Realtor, feel free to contact us. We would be happy to help!