What To Expect For The Real Estate Market in 2015
Interest Rates: Get ready! Experts predict interest rates will stay low. However, the Fed plans to tighten credit. So, rates will rise slightly. If rates climb too fast, watch out! Buyers on the fence will act quickly. This triggers a slight surge in home prices. But, beware! When lenders raise rates too high, the market slows. Higher rates cut affordability. Act now to lock in lower rates!
Appreciation: Look back at 2014. Many investors stepped away, slowing appreciation. This opened doors for first-time buyers. Recently, bottom-fisher investors snapped up great deals. Now, 2015 shines! Expect reduced down payments. Plus, first-time buyers will return in droves. Seize this chance to jump in!
Inventory: In 2014, inventory increased as fewer homeowners were underwater and now had the equity to sell. Housing Inventory should continue to slightly increase as more homeowners become positioned to move up (or downsize).
After years of compiling real estate statistics for Glendale, La Canada, Pasadena and La Crescenta. This is what I expect for the Real Estate Market in 2015. We will see how the year pans out and it my expectations come to pass. What’s your opinion?
