US home prices defied economic downturn and will move back to Y 2019 highs as they supported by record low mortgage rates and limited supply. That according to a Poll that showed housing outpacing consumer price rises in Ys 2020 and 2021.
The US housing market was the center of the Y 2008 financial crisis that led to a global recession. It is expected to be a very bright spot in the instant recession brought on by The China Virus.
House prices will rise 3.0% this year and next ahead of inflation and overall GDP.
Housing demand is dramatic with home builders in markets all around the country reporting solid demand in May and June
These inflation beating projections of 0.8% and 1.6% this year and next – come with mortgage rates at record lows and a undersupply of homes.
Have a healthy day, Keep the Faith!