GeneralMarket Update April 27, 2020

Mondays with Matthew: Are we heading for another housing bubble?

Here is the latest video from Matthew Gardner, Windermere’s Chief Economist. He shares some great info in the video. Here are my quick takeaways:

  1. We are in a totally different place than we were in the last housing bubble in 2007. At this point he doesn’t see any sign of a bubble or prices dropping significantly.
  2. Mortgage rates are low and that is helping keep monthly payments affordable.
  3. We will likely see a drop in the number of total homes sold in 2020 (less inventory).
  4. He predicts prices in our market will be around 2.5% higher than 2019.

Please reach out with any questions or comments.  Thanks for watching!