As we enter 2015, potential home buyers and sellers alike are wondering what 2015 will look like for the US housing market. While we saw an uneven recovery from the 2008-2009 Recession in 2014, some analysts have expressed their real estate market predictions (2015) and they believe things might even out as economic and job growth continue to accelerate in the United States.
Fortune reported that we can expect three main things:
- Home price increases are likely to slow down, although affordability will decline.
- Mortgage rates are likely to rise.
- Millennials will demand housing which will help boost prices.
But how accurate are these predictions? What does this mean if you’re looking to buy a home in 2015? Or sell a home?