Second Half of 2020 Real Estate Market Looking Good
Take a breath! There’s good news ahead. According to many economists we are going to start to see an economic rebound in the second half of this year. Here’s a look at what some of the experts are saying:
Jerome Powell, Federal Reserve Chairman:
“I think there’s a good chance that there’ll be positive growth in the third quarter. And I think it’s a reasonable expectation that there’ll be growth in the second half of the year…”
Nonpartisan Analysis for the U.S. Congress:
“The labor market is projected to materially improve after the third quarter; hiring will rebound, and job losses will drop significantly as the degree of social distancing diminishes.”
These experts and many more believe that while we are certainly not out of the woods yet, there is light at the end of the tunnel. They also agree it will be a bumpy ride for the next few months, but the good news is that they also agree the turnaround will begin sooner rather than later.
Buyers and sellers may have put their real estate and mortgage plans on hold during this planned shutdown. However, as signs have started to pop up, the market is picking back up sooner than later! The past two weeks in Sonoma County alone, there have been over 80 new homes put on the market for sale and both realtor and lender alike are busy with new home buyers.
If you’ve thought about selling or buying anywhere in California, now is the time to get going as it’ll just get busier and busier.
The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.