In the first of a series of Influencer Marketing sessions*, moderator Fletcher Wilcox (The Wilcox Report) moderated local real estate experts Jim Daniel (RL Brown Housing Reports), Tina Tamboer (The Cromford Report), Catherine Reagor (StreetScout) and Tom Ruff (The Information Market) for a two-hour panel about local housing futures.
Here are some 2020 predictions:
- Inventory will be tight
- Purchase prices are going to rise
- There will be more new home sales
- Expect interest rates to be low
- There will be lots of competition
- There will be more New Home Sales because of affordability and inventory
(Note: REALTORS® who subscribe to ARMLS® can access new housing data
with RL Brown’s MAGIC Professional app at no additional cost.)
- Prices will continue to rise as long as:
- Incomes continue to rise
- Mortgage Rates remain stable
- Affordability remains normal
- Luxury Market is going gangbusters
- With record home prices and rent climbs, incomes aren’t keeping pace — our median HH income is around $70K, but 60% of people moving here are making more than $100K
- If you’re from the Bay Area, you can come here and rent a luxury apartment, but I’m hopeful that we see companies coming here from California, paying higher incomes
- We will exceed sales and pricing expectations in the first three months of the year
- Prices are going up, but transactions won’t decline in the first quarter
- We will see a decline in foreclosures
*The second session, Influencer Marketing: Harnessing the Power of Persuasion, is on Feb. 21 and the third session, Influencer Marketing: Sharing Data, is on Mar. 20.
Related story: Are We In a Housing Bubble?