We are already 10 days into the new year. It already seems to be flying by! Buyers are out there! If you are thinking of selling…. is it a good year to list?
This article on realtor.com suggests a good year in real estate, especially for millennial buyers!
- 2020 be the year of the millennial homebuyer
- Realtor.com® predicts that millennials will make up more than half of all mortgages by spring 2020.
- Nearly 5 million millennials are turning 30, and the older millennials are reaching 39, meaning the younger millennials most likely will be looking to buy their first home, while the older millennials will be looking to move on from their starter home to their family homes.
Housing remains a solid foundation for the U.S. economy going into 2020,” said George Ratiu, senior economist at realtor.com®.
Accordingly, 2020 will prove to be the most challenging year for buyers, not because of what they can afford, but rather what they can find.”
However, low inventory may continue to be a problem in 2020. It is predicted that first-time buyers will struggle to find homes, while older sellers will be hesitant to list, continuing the cycle. The building of single-family homes should rise by 6%, helping to combat some of the demand, but not all of it. Meanwhile, existing-home sales are expected to drop 1.8%, while the average median home price is predicted to rise 0.8%. Mortgage rates will stay under 4%, reaching 3.88% by the end of 2020, the site predicts.
123 SWINGING BRIDGE ROAD, HOLLIDAYSBURG – LISTED BY GRETCHEN GUNNETT 814-414-2673
DETAILS: NEW PRICE! $148,900
This is a beautifully updated… two-bedroom home with additional space in the master bedroom for a possible nursery or office. The property is surrounded by 1.36 acres of lush landscape. Prepare meals in the kitchen and relax in the charming living room while watching the fireplace. Home features an updated bathroom, a detached garage and much more. When the weather gets warmer… you can enjoy mornings or evenings on the wrap-around porch or sit around the nicely landscaped fire-pit!