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Arizona real estate recovery will be started in the 2nd half? Let's look at what the experts are thinking!
With the U.S. economy on everyone’s minds right now, questions about Arizona and the country’s financial outlook continue to come up daily. Rates are leading the buyers interest in moving and upgrading. The one financial question that seems to keep rising to the top is: when will the Arizona economy begin to recover? While no one knows exactly how a rebound will play out in Surprise AZ, expert economists around the country are becoming more aligned on when the real estate recovery will begin.
According to the latest Wall Street Journal Economic Forecasting Survey in 2020, which polls more than 60 economists on a monthly basis, 85.3% believe a recovery will begin in the second half of 2020 (see graph below):
There seems to be a growing consensus among these experts that the second half of this year will be the start of a turnaround in Surprise, AZ.
Chris Hyzy, Chief Investment Officer for Merrill notes:
In addition, five of the major financial institutions like Goldman Sachs, and JP Morgan, are also forecasting positive GDP in the second half of the year. Today, four of the five expect a recovery to begin in the third quarter of 2020, and all five agree a recovery should start by the fourth quarter (see graph below):
The vast majority of economists, analysts, and financial institutions are in unison, indicating an economic recovery in Arizona should begin in the second half of 2020. Agreement among these leading experts is stronger than ever.