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Offbeat Next U.S. Recession Seen Beginning in 2020: Zillow/Pulsenomics

20:10  22 may  2018
20:10  22 may  2018 Source:   bloomberg.com

Thinking of selling your home? Do it before 2020, economists say

  Thinking of selling your home? Do it before 2020, economists say A panel of economic and housing experts sees a dip in house prices on the horizon.Prospective home buyers these days are probably feeling pressure to lock in a deal quickly given skyrocketing home prices across most of the country. But those who wait a couple of years may be rewarded.

Citigroup' s Mann Sees No Recession , Says Fed Path `Appropriate'. In the meantime, the housing market is expected to see stronger price appreciation than forecast a year ago with home values rising 5.5 percent to a median of 0,800 in 2018, according to Zillow and Pulsenomics .

enter a recession , according to online real estate company Zillow which predicts that will happen in 2020 . The report disclosed that nearly half of all survey respondents said the next recession will What Zillow Thinks. Zillow is a popular website that aggregates real estate price information and for U . S . home prices," said Pulsenomics founder Terry Loebs, which conducted the survey for Zillow .

The American flag is hung on the exterior of the New York Stock Exchange (NYSE) in New York. © Photographer: Scott Eells   (Bloomberg) -- Mark your calendar. The next U.S. recession will begin in 2020, a survey says.

More than half of the 105 real estate experts and economists in the quarterly survey by housing data provider Zillow and research firm Pulsenomics LLC point to “monetary policy as the likeliest cause.”

Fed officials have signaled at least three rate increases this year. A year ago. a geopolitical crisis was seen as the most likely cause of the next recession by survey panelists.

In the meantime, the housing market is expected to see stronger price appreciation than forecast a year ago with home values rising 5.5 percent to a median of $220,800 in 2018, according to Zillow and Pulsenomics. Last year, forecasts called for a 3.7 percent gain.

A separate Fannie Mae survey forecasts home prices will rise 3.9 percent over the next 12 months.

To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net

To contact the editors responsible for this story: Stephen Foxwell at sfoxwell@bloomberg.net, Vincent Del Giudice, Kristy Scheuble

©2018 Bloomberg L.P.

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