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The 2020 real estate market: Is it going to be a boom or a bust?
The first thing we’ll look at to determine the answer is interest rates. Interest rates are near all-time lows. Any time you can get a rate under 4%, it’s a great time to buy. However, they can’t really go any lower, so we expect them to go up in 2020.
In any market, good, quality properties are always in high demand. This is especially true in Naperville. These homes command top dollar in today’s market. If you have plans to sell in 2020 and your home needs a little work, we’d be happy to put you in touch with our list of great contractors that we work with regularly. Then you can fix it up to ensure that you sell for top dollar.
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Election years have historically been great years for real estate.
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Another factor to take into account is that 2020 is an election year. Historically, election years have been great years for real estate. We usually don’t experience much volatility in the market and people feel more confident about the economy during the election process.
What are your plans for 2020? If you’re thinking of buying or selling, don’t hesitate to reach out to us via phone, email, or social media. We would love to hear from you.
