A group of real estate economists predicted that in 2020 home prices will increase, mortgage interest rates will remain low, and may even drop, according to Forbes, a leading business publication. They also foresee Millennials heading for the suburbs in greater numbers while constituting a growing share of the home buying market.
According to Oddeta Kushi, chief economist at First America, Millennials will be entering a tough market in 2020 noting, “A limited supply environment, combined with growing demand and increased competition for homes, is accelerating home price growth again.”