Homeowners experienced a wild ride over the past decade. Ten years ago housing prices were down nationwide, then recovered and surged ahead.
“It has, in fact, been the most consequential stretch in American real estate history, one that has fundamentally altered the landscape,” according to a new report from Realtor.com®. “Cosmopolitan coastal cities are out; affordable midsize cities are in. Baby boomers and Gen Xers are no longer the dominant forces in buying, ceding that turf to millennials,” says the report.
Forces include a lack of homes for sale, which could reach historic lows next year. On the positive side, mortgage rates are expected to remain low.
Here are the biggest factors expected to shape the national real estate market in 2020.
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