What To Know About Home Buying In 2020
With the market constantly fluctuating, it seems like there are good years to buy a house and bad years to buy a house. Whether you are looking for your first home or your twentieth home, it's good to know about the real estate market around you and what to expect from your home buying process in 2020.
Prices Are on the Rise
One of the things to know about today's real estate market is that prices are on the rise. If you live in a city that is being hit especially hard by housing prices, then you may be wondering what that means for you. Experts say that in 2020 buyers can expect to see a 0.8 percent increase in housing prices overall, which isn't as much as many expected to see. Just remember that if you are selling and buying that you get to sell for high and buy for high, which may not be the worst thing.
It May Be Harder to Buy a Home
While housing prices may not be going up substantially in 2020, there is one thing that you may have to battle when you are shopping for a home, and that's a lack of inventory or at least inventory that stays on the market for very long. 2020 is the year of competitive home buying, meaning that you will see more houses for sale on the market for only a couple of days, which is great for sellers but tricky for buyers. Depending on the area that you live in, you may also get caught up in a bidding war, which can leave you facing head to head with someone else for the same house. Just remember to work with your realtor closely in these situations so that you don't either pay too much for a house or miss out on your dream home.
Making a list of all of the qualifications that you want in a house before you start looking for one with your realtor cann help you find exactly what you want in a home. Although this market can be pricey and competitive, if you are aggressive and work with a Remax realtor like Danielle Edwards Re/Max, you should be able to find something that will make 2020 feel like your best year yet. To learn more about real estate listings and properties, reach out to a real estate agent in your area today.