TOP CONSIDERATIONS FOR 2020:
- A new normal in the market: supply adjusting to slower sales activity, providing conditions that are more supportive to a stable price environment.
- Market improvements are expected to be driven by gains for lower priced product, while easing prices and oversupply persist in the upper price ranges.
- Supply adjustments are expected to continue, helping to eventually push the market toward balanced conditions.
- Prices are expected to stabilize over the year, but remain just slightly lower than last year’s annual levels.
- Stable mortgage rates, previous price declines and job growth should support modest improvements in sales, but these will remain at lower levels.
- Employment risk weighs on the market, which could result in further declines in sales and prices.
CLICK HERE to read more!