#Jax 2020 Market Forecast
Q. What can we expect for our local 2020 housing market?
A. I'm asked this question a lot this time of year so here are my thoughts. I believe inventory levels will begin to improve which will move us from our current seller's market to a more balanced market. With interest rates at record lows and rental rates at all time highs, more buyers will enter our market. We'll also see an increase in distressed sales due to the increase in Notice of Defaults (NODS) I'm seeing at the court house. Finally, be on the lookout for more i-buyers entering our market. Big name firms are coming to Jacksonville where they'll buy homes direct to consumer bringing more competition to this already crowded landscape.
As we enter this new decade, I would like to thank all our loyal readers for their questions, feedback and support. And don't forget you can also find us online at www.askphyllis.net. Wishing everyone a happy and safe new year!