Many are wondering what the home pricing trends will be in 2020.
CoreLogic is predicting there will be continued appreciation at an average 5.4% over the next year. The state of Indiana is expected to be on target with the National average.
Not only is CoreLogic predicting a rise in home prices, but also according to ARCH Mortgage Insurance Company, their ARCH Risk Index is indicating that the probability of home prices lowing in the next two years is minimal. In fact, 32 of the 50 states had minimal risk of lowering by 2021.
Overall, the real estate market is projected to have a great year in 2020. Home prices are expected to rise, while interest rates are still forecasted to remain around 3.80%. While this is a slight increase from 2019, it is still a lower rate than your parents or grandparents had!
Key Point
Home prices are expected to rise in 2020 with little risk of decreasing for at least the next two years. Interest rates are also expected to remain low. With prices increasing and interest rates remaining low, now is a good time to get together and plan your next move.
