The New Year is almost upon us, so it’s time for the prognosticators and fortune-tellers to come out and give us their future predictions for the coming year. One question on the minds of many, including those thinking about buying or selling a home in the New Year, is the fate of the housing market.
As with any prediction, most are based on “anticipated” market conditions. So, while forecasts are valuable for planning purposes, they may or may not come true. All it takes is for one report or indicator or world event to shift predictions off their foundations.
As of the best information we have now, 2020 will continue to be year of strong housing markets. Below is an infographic that illustrates the forecast for the broader national market.
Conditions in Northern Virginia could see home prices rise even more than the national expectations, especially in anticipation of the opening of the new Amazon headquarters in Arlington. The tight inventory and low rates will continue to resonate throughout the region.
We are here to help! Whether you are looking to buy or sell a home in Northern Virginia, we are always here to help with all your real estate needs! If you are unsure of your home’s value or if you are thinking about buying or selling, contact Jason at 703-298-7037 or Jason@JasonAndBonnie.com.