Where Is the Housing Market Headed for the Rest of 2020? [INFOGRAPHIC]

July 31, 2020 By Tami Savage

Infographic titled where is the housing market headed for the rest of 2020 shows 4 sections. first section states "the real estate market is forecasted to finish 2020 with growing strength. Home sales are projected to remain strong for the rest of the year and increase in 2021." The second sections titled "30-year fixed interest rates." then goes on to say "Today's interest rate is 2.99% "rates are forecasted to stay low, creating a great opportunity for homebuyers." then it goes into Historic Rates with 1970s at 8.86%, 1980s at 12.7%, 1990s at 8.12%, 2000s at 6.29%, and 2010s at 4.09% "today you can secure a lower rate than your parents or grandparents did." The third section titled "2020 forecasted median price of homes (in thousands)." Fannie Mae shows 286 existing and 337 new homes. MBA had 284 existing and 327 new, and finally NAR shows 283 existing and 325 new homes. The fourth section titled "home sales (in millions)." Freddie Mac had 4.8 in 2020 and 5.6 in 2021. Fannie Mae with 5.6 in 2020 and 5.8 in 2021. MBA had 5.8 in 2020 and 6.3 in 2021, and finally NAR shows 5.9 in 2020 and 6.4 in 2021. Source is from Freddie Mac, Fannie Mae, MBA & NAR.

Some Highlights:

The housing market is forecasted to finish the year with growing strength.
Historically low mortgage rates are creating great potential for homebuyers, and home sales are on the rise.
If you’re thinking of buying or selling a home this year, let’s connect to maximize your opportunity today.

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