Economists have mixed reviews for the 2020 U.S. real estate market forecast in reference to home sales and price gains but one opinion seems to be shared.... the Dallas-Ft. Worth, Texas market is expected to outperform most of the large urban markets throughout the country! Many economists forecast home sales and prices to decrease slightly throughout the U.S. for 2020, but many local brokers and agents in the DFW area expect the exact opposite with expectations of slight increases for both pre-owned and new construction home and condo prices and sales. In some cases, models with variables such as lower interest rates and more favorable conventional and FHA loan programs and options that increase buyer purchasing power show home sales numbers through the roof for 2020!
If you ask DFW Realtors directly, it really depends on the season, niche and most importantly the perspective and outlook on the real estate market and surrounding economic conditions including employment numbers, job creation, interest rates and other financial flags that for the most part are on the upside in DFW. It also doesn't hurt that Dallas-Ft. Worth, TX is the 4th most popular urban migration relocation destination in the U.S.!
According to Realtor.com, DFW is just one out of a couple dozen U.S. markets that economists predict will see declines in home costs next year with some of the larger declines in Kansas City, Miami and Las Vegas which are also large urban markets that specialize in both pre-owned and new construction single-family and condo sales. In North Texas, a retreat of .5% in home costs is expected which isn't much, but would record the first drop since the North Texas real estate market recovered from the Great Recession close to 10 years ago.
While home price gains are positive, some fear these gains might overreach and increase affordability concerns, but others just see the dilemma as a short term inventory supply demand blip on the radar that will work itself out. 2020 Inventory in the Dallas-Ft. Worth market is expected to increase for new construction along with pre-owned home and condo inventory. For now, the DFW market continues to thrive with expectations of significant increases in Q1, Q2 and Q3 inventory which will ultimately provide more housing options, more buyers and most importantly will encourage more buy and sellers!