What’s Forecasted for the Rest of the Year?
One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market for the rest of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 – and the outlook is extremely encouraging. Here’s a look at what some experts have to say about key areas that will power the industry and the economy forward this year. Frank Martell, President and CEO, CoreLogic: “Home price appreciation continues at a solid pace reflecting fundamental strength in demand drivers and limited for-sale inventory…As we move forward, we expect these price increases to moderate over the next twelve months. Given the economic outlook, housing remains a bright spot for the foreseeable future.” Freddie Mac: “Homebuyer demand remains strong, especially for those in search of an entry-level home where the improvement in affordability via lower mortgage rates has a material impact.”
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