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WILL HOME SALES & PRICES CONTINUE TO RISE IN 2020?

 

Home Sellers Will Sit 2020 Out

Realtor.com predicts residential property inventory to "evaporate" in 2020. "That will make it more challenging for buyers to find a home despite attractive interest rates," the Santa Clara, Cal.-based company states.

Millennials Will Get Aggressive About Buying Homes

Realtor.com also notes that one demographic will be big buyers in 2020 ? even if inventories are thin. That?s the millennials.

Apparently, younger buyers are eschewing inner-city living and have their sights set on 1,800 square-foot homes in the suburbs, with good neighborhoods and decent schools. Millennials will take more mortgages than baby boomers and gen-x?ers in 2020, the company predicts. DOWN PAYMENTS from millennial buyers will also likely be bigger than ever.

Realtor.com also says millennials ? with the oldest members approaching 40 and the biggest cohort turning 30 in 2020 ? will surpass 50% of all HOME PURCHASE MORTGes.

 

 

 

 

 

 

 

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