February 2020- National Real Estate Market Trends
National Real Estate Trends – February 2020 and how they pertain to local Santa Cruz County Real Estate Trends
February 2020- National Real Estate Market Trends- Happy Housing Market Update. We have compiled the February 2020- National Real Estate Market Trends here in this video. Have a look and feel free to share as we believe this February 2020- National Real Estate Market Trends update is valuable. Please let us know if you have any questions pertaining to February 2020- National Real Estate Market Trends and how it may affect you and your housing goals..
Check out this Santa Cruz Real Estate video for more information on the Nation Real Estate Trends:
February 2020 National Real Estate Market Trends is brought to you by: Shemeika Fox- Your Santa Cruz Real Estate Expert National Real Estate Market Update: It’s crazy how much the February 2020- National Real Estate Market Trends are so similar to what we are seeing here locally in the Santa Cruz County Real Estate Market.
Hi I’m Shemeika Fox- Your Santa Cruz Real Estate Expert. Our local Santa Cruz California, Real Estate Trends are similar to the February 2020- National Real Estate Market Trends. It is interesting to compare what is happening nation wide in Real Estate to what we are seeing right here in the Santa Cruz County Real Estate Market.
There has been so much talk of a recession but now most experts are saying they don’t believe it will be in 2020, in Fact Goldman Sachs’ US Outlook reports “In contrast, our new recession model suggests just a 20% probability of a Recession” And according to George Ratiu, Senior Economist at Realtor.com he says “Housing remains a solid foundation for the U.S. economy going into 2020.” So our strong housing market is actually helping prevent a recession. And according to Fannie Mae, Freddie Mac, The Mortgage Bankers Association and National Association of Realtors, they are ALL projecting that MORE homes will be sold in 2020 than were sold in 2019. Also, these same entities are ALL projecting mortgage interest rates to remain very low through the rest of the year ranging from 3.6 to 3.8%, this all has a positive impact on the housing market. The biggest issue that the housing market is expected to see is a shortage of inventory. In fact Realtor.com states “In 2020, we expect inventory to struggle to grow and could INSTEAD reach a historic low level.” The February 2020- National Real Estate Market Trends continue to see months of housing inventory go down nationally. Remember, when you have lower supply and a higher demand that’s when you see prices start to increase and experience bidding wars or multiple offer situations. Which is what we are seeing this right now, right here, in our local Santa Cruz County, California Real Estate market. That said, there are a few new housing developments in Santa Cruz County. In Scotts Valley there is The Grove, Scotts Valley by City Ventures and Apple Homes Development Inc. In Aptos there is The Aptos Village. So there are a few new home purchasing options in Santa Cruz county right now.. Bottom line Santa Cruz home buyers and Santa Cruz home sellers, we are in a very strong real estate market. Don’t be so hasty to listen to all the “Hype” about a recession, look at the facts and what the Experts are projecting. Thanks for tuning in and for more information on how the National and local Santa Cruz real estate markets will effect your Santa Cruz Real Estate Goals, reach out for a complimentary and confidential consultation. Im shemeika fox your Santa Cruz Real estate expert!