My 2020 Housing Market Prediction In One Word

Everyone and their dog has a prediction for the coming year. And depending on the fact that most forecasters let their personal prejudices cloud their judgement, you would be better off listening to my dog. But you can't because he's napping. So without a lot of long drawn out facts, charts and baloney, my prediction for the housing market in 2020 can be summed up with one single word...

Solid

To keep my two cents from being too long and boring I will cut the crap and give you why I think what I do about where 2020 will be for anyone related to the housing industry in very simple terms.

Housing Sales

It's simple. Sales will stay strong because there are more buyers than sellers. Low housing inventory will continue to be a major factor this coming year. 

Mortgage Rates

Rates will remain mostly stable. Period. The Federal Reserve is driving this boat and are very focused at keeping rates in an area that balances grown and inflation. Everything else is just white noise. 

Housing Prices

The price of the average home will continue to rise (see the above Housing Sales). Any Tom, Dick or Harry can figure out that when you have more people wanting to buy a product than you have of said product, prices go up. Don't talk to me about unique pockets in the country or isolated cases.  This majority rules. 

No Recession

Unless you are blind, you have noticed news of a very solid, even record breaking US economy. Employment. Increases in discretionary income. Real wage growth. Consumer confidence. Wall Street records. Trade Deals. Do I need to keep going?

I am not saying we will have the record breaking growth like we had in 2019. But I am saying that when you cut through the talking heads on cable TV and politicians and you look at the facts, there are NO signs of anything this coming year to break this trend. Even if there was a change in the White House and Wall Street reacted negatively, that wouldn't take place until November. Put your biases aside and look at the facts. 

The Bottom Line

2020 will be a good year for those interested in the housing market. All factors line up for this to happen. Don't tell me but but but.. certainly don't get political. Just look at the facts. And if you don't agree with what I have said then do your own research. But do it without your preconception googles on. I'll be here when you get done. 

Scott's Advice

If you want to buy a home, get your ducks in a row. The market will dictate that you move fast when wanting to buy a home. And reach out to a real estate professional for help right away. You will need their protection and advice. 

If you want to sell, do your homework. You may think you want to sell it yourself but you should still talk to a real estate professional first. Many brokers, like myself, charge less than you think and will cast a much bigger net of potential buyers than you could attract on your own. And they will better protect you from the pitfalls of bad contracts and bad deals. But even if you ultimately decide to go it alone, you will have gained valuable knowledge from that real estate professional. 

But seriously Folks, call me. 



Scott C. Dickinson is a real estate broker who lives in beautiful Vancouver, WA but helps others with their real estate needs all over the US. He can be reached by email at ScottYourBroker@gmail.com or call him at 360-518-7197.
Check him out online at linktr.ee/yourbrokerscott.