{"id":904,"date":"2020-06-29T13:38:19","date_gmt":"2020-06-29T13:38:19","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=904"},"modified":"2020-06-29T13:38:19","modified_gmt":"2020-06-29T13:38:19","slug":"experts-saying-rest-2020","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/experts-saying-rest-2020\/","title":{"rendered":"What Are Experts Saying About the Rest of 2020?"},"content":{"rendered":"
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What Are Experts Saying About the Rest of 2020?<\/p><\/div>\n

One of the biggest questions on everyone\u2019s minds these days is:\u00a0What\u2019s going to happen to the housing market in the second half of the year?\u00a0<\/em>Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 \u2013 and the outlook is extremely encouraging. Here\u2019s a look at what some experts have to say about key areas that will power the industry and the economy forward this year.<\/p>\n

Mortgage Purchase Originations:\u00a0<\/strong>Joel Kan,\u00a0Associate Vice President of Economic and Industry Forecasting<\/em>,\u00a0Mortgage Bankers Association<\/em><\/strong><\/a><\/p>\n

\u201cThe recovery in housing is happening faster than expected. We anticipated a drop off in Q3. But, we don\u2019t think that\u2019s the case anymore. We revised our Q3 numbers higher. Before, we predicted a 2 percent decline in purchase originations in 2020, now we think there will be 2 percent growth this year.\u201d<\/em><\/p><\/blockquote>\n

Home Sales:\u00a0<\/strong>Lawrence Yun, Chief Economist, National Association of Realtors<\/em><\/strong><\/a><\/p>\n

\u201cSales completed in May reflect contract signings in March and April \u2013 during the strictest times of the pandemic lock down and hence the cyclical low point\u2026Home sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year.\u201d<\/em><\/p><\/blockquote>\n

Inventory:\u00a0<\/strong>George Ratiu,\u00a0Senior Economist, realtor.com<\/em><\/strong><\/a><\/p>\n

\u201cWe can project that the next few months will see a slow-yet-steady improvement in new inventory\u2026we projected a stepped improvement for the May through August months, followed by a return to historical trend for the September through December time frame.\u201d<\/em><\/p><\/blockquote>\n

Mortgage Rates:\u00a0<\/strong>Freddie Mac<\/em><\/strong><\/a><\/p>\n

\u201cGoing forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.\u201d<\/em><\/p><\/blockquote>\n

New Construction:\u00a0<\/strong>Doug Duncan, Chief Economist, Fannie Mae<\/em><\/strong><\/a><\/p>\n

\u201cThe weaker-than-expected single-family starts number may be a matter of timing, as single-family permits jumped by a stronger 11.9 percent. In addition, the number of authorized single-family units not yet started rose 5.4 percent to the second-highest level since 2008. This suggests that a significant acceleration in new construction will likely occur.\u201d<\/em><\/p><\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

The experts are optimistic about the second half of the year. If you paused your 2020 real estate plans this spring, let\u2019s connect today to determine how you can re-engage in the process.<\/p>\n

 <\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

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THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Real Estate Market Projections Finish Reading What Are Experts Saying About the Rest of 2020?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[191,18,91,49,184,63,20,48,108,13,47,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/904"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=904"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/904\/revisions"}],"predecessor-version":[{"id":906,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/904\/revisions\/906"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}