NAR: 2020 Real Estate Market Predictions

Picture of Author: Rich Barnhart

Author: Rich Barnhart

National Association of REALTORS® chief economist Lawrence Yun reviews existing and pending home sales for March and makes his 2020 housing predictions.

  • We had a housing shortage before the pandemic and we have even fewer listings now. As people become more comfortable with transactions involving social distancing protocols, we should see more listings come on the market.
  • The first quarter was very strong and we were on pace for the most annual sales in the past 10 years.
  • While housing market conditions in March weakened, home prices are up 8% from a year ago.
  • 2020 Prediction: Home sales volume will be down 10% to 13%, but median prices will have modest 1% to 2% gains.

Blog Author:

Rich Barnhart

Rich is the broker and owner of By The Sea Realty and a frequent contributor to the company's real estate blog.

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