U.S Housing Market Predictions for 2015

As the economy as a whole rounds a promising corner, consumer analysis groups like CoreLogic are finally able to make favorable projections of what’s to come in the 2015 housing market. Take a look at what some of their 2015 predictions include:

1. The U.S. economy will continue to ramp up as strong employment growth is prominent with first-time homebuyers.
2. Home sales will increase by 9%, housing starts will increase by 14% and home price growth will moderate.
3. Markets with high home prices reflect the fundamental strengths of their respective economies, particularly in the technology and energy sectors.
4. There is high demand for higher-end priced homes in the top 25 U.S. markets, which reflects tight supply and lack of new construction.

With the basic projection of stronger economic fundamentals comes the anticipation of and increase in demand for housing nationwide. Overall sales are projected to increase by approximately $5.8 million, up 9% from 2014.

Since inflation is low, the 30-year fixed mortgage rate is expected to rise a mere .1%, to 4.3% in 2015. The combination of employment growth and the recent drop in oil prices is significantly improving consumer confidence as a whole. The U.S. real estate market is poised for great things this year. We can’t wait to watch it unfold.