Pending transactions up nearly 10% inTwin Cities compared to 2019Below are the weekly stats we received from our brokerage (RE/MAX Results)...Compared to last year, I was surprised to see
Buy Now Home Prices Going Up 3 In 2020
Fall 2019 has been projected as a great time to buy, due to continued low mortgage interest rates which are expected to stay through the end of the year.
Fall shoppers tend to save more money as there is often less competition from other buyers. Sellers who missed the summer window have a sense of urgency to sell before winter sets in and buyers go into hibernation.
According to senior economist for the National Association of Realtors, Gay Cororaton says "The NAR expects the median price of existing homes to increase by 3% in 2020, from $269,600 to $278,500 (an increase of nearly $9,000).
If you are considering buying a home, now would be a good time to get pre-approved and begin looking at homes...you could be settled and in your new home in early 2020 before the spring market arrives and prices go up!