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10 Real Estate Predictions For 2015

10 REAL ESTATE PREDICTIONS FOR The housing 2015 market has been shifting out of rapid recovery and into a more stable phase that economists are calling the new normal. Here are 10 things housing experts expect to see in real estate in 2015. Prices will rise 1 more slowly Housing price gains slowed dramatically in 2014 and are expected to continue on that trajectory in 2015. Zillow predicts home prices will rise just 2.5% in 2015 predicts an annual gain of 4%-5%. Source: m-2015-Housing-Forecast-Stage-Set-for-the-Re turn-Of-First-Time-Home-Buyers Affordability will worsen Unfortunately, slowing prices don't mean that home ownership will become more affordable. predicts that home affordability will decrease by 5%-10% in 2015. Source: m-2015-Housing-Forecast-Stage-Set-for-the-Re turn-Of-First-Time-Home-Buyers The buying 3 frenzy will fade Good news for regular people: the home buying process should get a little less hectic in 2015, thanks to eased inventory and credit plus the exit of investors from the market. 4. Mortgage interest rates will rise 5% The Mortgage Bankers' Association predicts that Freddie Mac's chief economist Frank Nofthaft rates will rise to 5% by the end of 2015; expects a more cautious average of 4.5% in 2015. Millennials overtake Gen 5 X as homebuyers By the end of 2015, Millennials (those under the age of 35) will overtake Gen X (35-50 years old) to become the largest group of homebuyers in the U.S., predicts Zillow's Humphries. Rent increases will outpace home value growth 6. In 2015 many 25- 34-year-olds (again, those Millennials) will form new households, but instead of buying they'|l rent, predicts Trulia's Kolko. Rent 7 Multifamily will reign Forecasts predict a boost in 2015 on groundbreakings of new single-family homes NAHB: 837,000 as well as new home sales FANNIE MAE: 783,000 NAR: 620,000 NAHB: 547,000 WELLSFARGO: 770,000 Sources: Builders shift to cheaper homes 8 In recent years, builders have chosen to build fewer, more expensive homes instead of more, cheaper homes. "In 2015 I expect builders to try to push above that ceiling on new home sales," says Humphries. Foreclosures will match pre-recession levels 9 From January through November 2014, there were 1,256,070 foreclosure filings in the U.S., according to Irvine, Calif.-based data firm RealtyTrac, down about 17.2% from the same period the prior year, when there were 1,516,332 filings. In 2015, watch for foreclosures to abate to pre-crisis levels, Blomquist predicts. Markets driven by fundamentals 10 2$ Next year the housing market will be driven more by underlying economic fundamentals-job growth, incomes, house-hold formation-than by macro-economic factors such as national price crashes. Data presented by Keller Williams Realty Memorial- Houston's real estate technology leader since 1989. Visit our official website at kw f /KellerWilliamsMemorial y /atkwmemorial You KELLERWILLIAMS. mbe /user/KWMemorial 8" /+KwmemorialHouston

10 Real Estate Predictions For 2015

shared by kwmemorial on Sep 01
0 comments - The housing market has been shifting out of rapid recovery and into a more stable phase that economists are calling the new normal. Here are 10 things housing experts expe...


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