Weekly Special | September 28, 2020

How 2020 Home Sales Rank

When looking forward to 2020 and preparing my initial forecast, I did not anticipate a pandemic sweeping the globe. On the other hand, I also did not expect mortgage interest rates to reach historical lows and drop below 3%.

So how is the market faring in 2020, with strong opposing forces creating so much chaos? Actually, not too different than what was expected.

The graph above provides multiple snapshots of the market, and we can see some very interesting story lines.

The graph segments the market and then ranks 2020 compared to the prior 18 years. A rank of “1” means that 2020 is the best year on record.

Everywhere you see a red line, it’s showing that 2020 is reporting the best numbers.

Million dollar homes are having the 2nd best year ever, but all homes above $200K are having the best year ever. The slow-down in the market is for homes under $100K, making 2020 the 8th best year on record overall.

The original one-page Weekly Special PDF is still available.