{"id":3035,"date":"2020-06-29T05:00:55","date_gmt":"2020-06-29T10:00:55","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/what-are-experts-saying-about-the-rest-of-2020\/"},"modified":"2020-10-28T11:10:10","modified_gmt":"2020-10-28T16:10:10","slug":"what-are-experts-saying-about-the-rest-of-2020","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/what-are-experts-saying-about-the-rest-of-2020\/","title":{"rendered":"What Are Experts Saying About the Rest of 2020?"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/06\/26124416\/20200629-KCM-Share-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"What Are Experts Saying About the Rest of 2020? | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>One of the biggest questions on everyone\u2019s minds these days is:\u00a0<em>What\u2019s going to happen to the housing market in the second half of the year? <\/em>Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 \u2013 and the outlook is extremely encouraging. Here\u2019s a look at what some experts have to say about key areas that will power the industry and the economy forward this year.<span id=\"more-42584\"><\/span><\/p>\n<p><strong>Mortgage Purchase Originations: <\/strong><a href=\"https:\/\/www.bankrate.com\/real-estate\/summer-housing-market-off-to-strong-start\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><strong>Joel Kan, <em>Associate Vice President of Economic and Industry Forecasting<\/em>, <em>Mortgage Bankers Association<\/em><\/strong><\/a><\/p>\n<blockquote>\n<p><em>\u201cThe recovery in housing is happening faster than expected. We anticipated a drop off in Q3. But, we don\u2019t think that\u2019s the case anymore. We revised our Q3 numbers higher. Before, we predicted a 2 percent decline in purchase originations in 2020, now we think there will be 2 percent growth this year.\u201d<\/em><\/p>\n<\/blockquote>\n<p><strong>Home Sales: <\/strong><strong>Lawrence Yun<em>, Chief Economist, National Association of Realtors<\/em><\/strong><\/p>\n<blockquote>\n<p><em>\u201cSales completed in May reflect contract signings in March and April \u2013 during the strictest times of the pandemic lock down and hence the cyclical low point&#8230;Home sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year.\u201d<\/em><\/p>\n<\/blockquote>\n<p><strong>Inventory: <\/strong><a href=\"https:\/\/www.realtor.com\/research\/new-listings-lead-loss-home-sales-2020\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><strong>George Ratiu,<em> Senior Economist, realtor.com<\/em><\/strong><\/a><\/p>\n<blockquote>\n<p><em>\u201cWe can project that the next few months will see a slow-yet-steady improvement in new inventory&#8230;we projected a stepped improvement for the May through August months, followed by a return to historical trend for the September through December time frame.&#8221;<\/em><\/p>\n<\/blockquote>\n<p><strong>Mortgage Rates: <\/strong><a href=\"http:\/\/www.freddiemac.com\/fmac-resources\/research\/pdf\/202006-Forecast.pdf\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><strong><em>Freddie Mac<\/em><\/strong><\/a><\/p>\n<blockquote>\n<p><em>\u201cGoing forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.\u201d<\/em><\/p>\n<\/blockquote>\n<p><strong>New Construction: <\/strong><a href=\"https:\/\/www.bankrate.com\/real-estate\/summer-housing-market-off-to-strong-start\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><strong>Doug Duncan<em>, Chief Economist, Fannie Mae<\/em><\/strong><\/a><\/p>\n<blockquote>\n<p><em>\u201cThe weaker-than-expected single-family starts number may be a matter of timing, as single-family permits jumped by a stronger 11.9 percent. In addition, the number of authorized single-family units not yet started rose 5.4 percent to the second-highest level since 2008. This suggests that a significant acceleration in new construction will likely occur.\u201d<\/em><\/p>\n<\/blockquote>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>The experts are optimistic about the second half of the year. If you paused your 2020 real estate plans this spring, let\u2019s connect today to determine how you can re-engage in the process.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the biggest questions on everyone\u2019s minds these days is:\u00a0What\u2019s going to happen to the housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 \u2013 and the outlook is extremely encouraging. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3036,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-3035","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What Are Experts Saying About the Rest of 2020?&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/what-are-experts-saying-about-the-rest-of-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Are Experts Saying About the Rest of 2020?&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"One of the biggest questions on everyone\u2019s minds these days is:\u00a0What\u2019s going to happen to the housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 \u2013 and the outlook is extremely encouraging. 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