Redfin is predicting that the national housing market will gain strength in 2020. Why? They expect mortgage rates to remain below 4%. Daryl Fairweather, Redfin's chief economist said, "Low mortgage rates started to revitalize the market at the end of this summer, but we won't see their full impact on demand for housing until next year.
In 2020, buyers will have fewer homes to choose from than they have in five years. But the return of bidding wars is good news for sellers who may have been holding out this year as the market stabilized."
Redfin expects about 25% of all offers will face a bidding war in 2020, compared to only 10% of offers this year. Thus, they are predicting annual price growth of 6% in the first half of the year.
I whole-heartedly agree with Redfin as I believe their predictions will come true in metro Denver too.