It seems as though economists are quite convinced of their upcoming vision for the year 2020.
The housing market is still a seller’s paradise – with slow construction and aging-in-place homeowners, buyers are having to seriously compete for the house of their dreams.
According to real estate economists surveyed by Zillow and Pulsenomics LLC, the industry won’t switch to a buyer’s market until at least 2020. About 75% of 100 economists agree with the statement.
Some signs that the market is still favoring sellers: inventory dropping and home value appreciation rising. The data also shows that home values are expected to rise to an additional 5.9% at the end of 2018.
We’ll have to wait to see if their predictions are correct; but as for now, it looks like sellers will be holding the cards for a little while longer.