Home buyers and sellers can have very different views when it comes to housing market conditions and forecasts. Rising prices, for example, are bad news for buyers but good news for anyone thinking about putting their home up for sale. In other words, perceptions of the current market will be determined by the home buyer’s or seller’s position in it. One thing everyone can agree on, though, is volatility. No one wants to be active in the market when it’s unpredictable.
Stable Housing Market
That’s why Freddie Mac’s most recent forecast is encouraging. Because, not only are they calling for a steady market in 2020, they also predict that conditions will remain stable through 2021. Sam Khater, Freddie Mac’s chief economist, says housing will remain solid despite potential economic ups-and-downs. “The economy has see increased volatility in November as hopes for a favorable resolution to the trade dispute have recently waned,” Khater said. “However, given low interest rates, modest inflation, and a solid labor market, the U.S. housing market continues to stand firm. Also, our forecast is for the housing market to maintain momentum over the next two years.” See detailed Freddie Mac forecast here.
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