Home-price growth expected in 2020

Home-price growth expected in 2020

Home-price growth expected in 2020
Moderate growth in home prices is expected to continue into 2020 according to a new forecast. Data from VeroFORECAST projects growth in the nation’s 100 largest housing markets by as much as 3.9 percent this year. This is up slightly from the 3.7 percent predicted during the first three quarters of 2019.

While prices are expected to grow, this projected rate of growth is far slower thAan seen in previous years. In the rapid growth years following the recession, prices were accelerating at much higher rate but began to cool beginning in 2017.

With California’s already high home prices, growth in prices is expected to be very mild. In fact, according to the data, price acceleration in the state is likely to be the slowest in the nation.

Today, conforming no-point 30-year fixed mortgage rates are averaging 3.625 percent and 15-year rates are near 3.125 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.