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February 2020 Market Snapshot

Continued lack of inventory for sale and dramatic mortgage interest rate increases toward the end of 2018 slowed the pace of existing home sales heading into last year. Economic conditions and geopolitical events sent interest rates back down, giving a late year push to home sales activity. Industry experts predict interest rates will remain favorable and sales will remain strong; however, limited inventory is expected to remain a challenge for home buyers in 2020.

This graph illustrates the year-over-year shift in existing sales:

Graph of year to year shift in existing home sales

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Home price sales stats

How does your home’s value and equity position compare to the national averages? If you’re renting, is it time to consider buying a home?
We can help you find out!


Sources: National Association of Realtors®, CoreLogic, Zumper

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