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Coming in 2020: Home Prices Weaken, but Where?

Home Latest News
By Suzanne De Vita
December 8, 2019
Reading Time: 2 mins read
Coming in 2020: Home Prices Weaken, but Where?

Arrow down and many houses. Falling real estate prices market. Buying and selling house.

After climbing extensively in recent years, appreciation is starting to steady, and expected to stabilize through the upcoming year, according to the annual forecast from realtor.com®, newly released.

In the forecast, the national price rises 0.8 percent in 2020—essentially flat, with declines in more than 25 percent of the 100 largest markets. (More: 2020 Housing Market: What the Experts Think)

The biggest decreases expected, according to realtor.com researchers:

1. Kansas City, Mo.-Kan. (-4 percent)
2. Scranton-Wilkes Barre-Hazleton, Pa. (-3.2 percent)
3. Greensboro-High Point, N.C. (-2.9 percent)
4. New Haven-Milford, Conn. (-2.4 percent)
5. Tulsa, Okla. (-2.3 percent)

In the forecast, appreciation falls in the following markets, as well:

  • Bakersfield, Calif. (-1.4 percent)
  • Miami-Ft. Lauderdale-West Palm Beach, Fla. (-1.2 percent)
  • Birmingham-Hoover, Ala. (-1.1 percent)
  • Detroit-Warren-Dearborn, Mich. (-1 percent)
  • Las Vegas-Henderson-Paradise, Nev. (-1.1 percent)
  • Fresno, Calif. (-0.9 percent)
  • Urban Honolulu, Hawaii (-0.9 percent)
  • Oklahoma City, Okla. (-0.8 percent)
  • New Orleans-Metairie, La. (-0.7 percent)
  • Louis, Mo.-Ill. (-0.6 percent)
  • Worcester, Mass.-Conn. (-0.6 percent)
  • Dallas-Fort Worth-Arlington, Texas (-0.5 percent)
  • San Francisco-Oakland-Hayward, Calif. (-0.4 percent)
  • Stockton-Lodi, Calif. (-0.4 percent)
  • Baltimore-Columbia-Towson, Md. (-0.3 percent)
  • Chicago-Naperville-Elgin, Ill.-Ind.-Wis. (-0.3 percent)
  • Austin-Round Rock, Texas (-0.2 percent)
  • Columbia, S.C. (-0.2 percent)
  • Dayton, Ohio (-0.2 percent)
  • Jackson, Miss. (-0.1 percent)
  • Toledo, Ohio (-0.1 percent)

On the flip side, these areas deviate from the national trend:

1. Boise City, Idaho (+8.1 percent)
2. Colorado Springs, Colo. (+6.3 percent)
3. Bridgeport-Stamford-Norwalk, Conn. (+4.8 percent)
4. Atlanta-Sandy Springs-Roswell, Ga. (+4.5 percent)
5. McAllen-Edinburg-Mission, Texas (+4 percent)

In addition to the home price trajectory, realtor.com researchers forecasted mortgage rates, sales, and more:

Credit: realtor.com®

For the complete forecast, please visit www.realtor.com/research.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

 

Tags: Home PricesHousing MarketReal Estate Marketrealtor.com®
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