The December domestic home market shows signs of continued, healthy demand for housing. Although, supply still hasn’t quite measured up. In fact, that’s true for both existing and new homes. At the same time, new homes have a slight edge in both availability and sales. As a result, builder confidence soars. And, home construction is expected to ramp up. With the data at hand, December forecasts 2020 market activity in a favorable light.
December Forecasts 2020 Market Activity With Favorable Conditions
Market activity includes two key lanes of trajectory. These have to do with pending home sales data. By the way, ‘pending’ refers to homes where the sales contract has been signed. Although, the transaction itself has not yet been closed. That said, the key lanes are month-over-month (MoM) and year-over-year (YoY). In fact, they give us a core inkling of current trends. Although, suffice it to say that the latest figures show a rise in pending home sales YoY, by about 5%. And when it comes to MoM, the data shows a modest rise of about 1%. Note that these trends take into account all sectors of the U.S. That is, West, Midwest, South and Northeast.
Market Activity Recap
Current data shows sustained, healthy demand. Also, it shows upward trends in pending home sales. Then, builders see the need. They plan to step up. As a result, it’s fairly easy to see how 2019 December forecasts 2020 market activity, in a solidly favorable light. And, other data points, in the full breakdown for Nov/Dec activity do not dispute that. As a result, it looks like the new year will bring with it more and new opportunities. In fact, it has positive outlook in store, for both home buyers and sellers. At the same time, increase in new home production looms. Now, that’s favorable news, as 2019 comes to a close. You might say some favorable winds are blowing into 2020.
If you would like more info on local market trends for San Mateo County CA, watch for The Real Estate Report, courtesy of Carmen Miranda. Although, do you plan to sell your San Mateo County real estate? Give Carmen a call directly. She is a local market expert and top sellers agent. Why not give her a call today?