Since we are still in the early stages of the Emerald Coast of Florida real estate market in 2020, what predictions do we have from Freddie Mac for the coming year? How will interest rates track, and will home sales still grow along with prices for the Destin, Niceville, 30A and overall markets?
In a recent housing article outlining their market forecast, Freddie Mac projected a positive view for the real estate market in 2020, and into 2021. “With low interest rates, modest inflation and a solid labor market, the U.S. housing market continues to show strength. Our forecast is for the U.S. housing market to maintain momentum over the next two years,” they state in the publication.
Some of their housing market projections were:
- Interest rates for 30-year fixed-rate mortgages will drop slightly, from 4 percent in 2019 to 3.8 percent in 2020
- Home sales will hit 6 million in 2019—but continue to rise, hitting a projected 6.1 million in 2020 and 6.2 million in 2021
- Home price growth will slow, from 3.2 percent in 2019 to 2.9 percent in 2020 and 2.1 percent in 2021
What does this mean for you? If you are in the Destin, Niceville and 30A real estate markets, it looks like a strong two years are coming up. Call me for a more detailed analysis of your particular real estate situation and your property’s “micro-market” and let’s discuss your goals and how we can accomplish them.
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It’s Wendy… It’s Sold!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Email Wendy: [email protected]
Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Crestview, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.