Redfin recently issued its housing market predictions for 2020, which the company believes will be more competitive thanks to a rebound in bidding wars and a continued lack of new homes.

According to its article, Redfin also predicts that 30-year fixed mortgage rates will stabilize at 3.8% in the new year and believes that for the first time, Hispanic Americans will gain more wealth from home equity than white Americans.

The company’s additional predictions include:

• Climate change will become a bigger financial factor for homebuyers and sellers.
• Charleston and Charlotte will lead the country in home price growth.
• More city streets will become car-free.

For more details on its predictions, check out the full article from Redfin here.  

Sources:
Redfin – redfin.com
National Mortgage Professional Magazine – nationalmortgageprofessional.com