Per Realtor Magazine America is poised for solid growth in 2015.
Positive growth is fuel for job creation and keeping home sales on the upward path. The National Association of REALTORS (NAR) forecasts that existing-home sales will reach 5.3 million, an increase of almost half a million over 2014. The national median home price will rise, too, but at a sustainable four percent rate, to just below $216,000.
Sales will be bolstered by more reasonable mortgage underwriting standards that were in place prior to the housing boom.
Interest rates are predicted to rise gradually, but to top out to just below five percent. Obviously, if interest rates stay closer to where they are now, it will be another boost to 2015.
All-in-all 2015 is shaping up nicely for sellers and buyers. The Brown Team has already seen signs of a stronger 2015 shortly after Christmas, buyers are out in January, and sellers aren't waiting until spring or summer to list.
We're looking forward to a good year!