Unlike last year, the residential real estate market kicked off 2020 with a bang! In their latest Monthly Mortgage Monitor, Black Knight proclaimed:
“Our first look at 2020 data suggests that we could see the most competitive home shopping season in years, as buyers are already competing over…homes for sale.”
Buying demand is very strong. The latest Showing Index from Showing Time reported a 20.2% year-over-year increase in purchaser traffic across the country, the sixth consecutive month of nationwide growth, and the largest increase in the history of the index.
The even better news is that buyers are not just looking. The latest Existing Home Sales Report from the National Association of Realtors (NAR) showed that closed sales increased 9.6% from a year ago.
This increase in overall activity has caused Zelman & Associates to increase their projection for home price appreciation in 2020 from 3.7% to 4.7%.
LET'S DISUSS IF YOU WERE THINKING OF SELLING IN SUMMER...... WHY WAIT BECAUSE CURRENTLY THE INVENTORY IS VERY LOW AND YOU CAN GET HIGHER PRICES!! CALL ME TO GET FREE MARKET ANALYSIS ... (949) 436-1043