“A new year is about to dawn—and the outlook on the housing market is definitely brighter. After all, 2014 was the best year in the U.S. economic recovery since the recession of 2008-2009. With an accelerating economic recovery fueling job and income growth, prospects are good for homeowners and would-be home buyers.”
The following are Realtor.com’s 5 housing market predictions for 2015:
1. Mortgage Rates Will Head Back Up
2. Millennials Will Set Up House
3. Builders Will Break New Ground
4. Credit Will Continue to Be a Major Factor
5. We’ll Close Out the Foreclosure Crisis
“It’s been seven years since the housing bubble burst and foreclosures skyrocketed, but in 2015 we’ll see the end of that era. Already this year has seen a major improvement in the composition of sales—that is, there are fewer foreclosures and short sales in the mix. But while these trends will be apparent nationwide, housing is still a local issue.”
Contact Damon today for additional information on local housing trends for 2015.
Source: Realtor.com
