Realtorcoms Top 5 Housing Predictions For 2015

Realtorcoms Top 5 Housing Predictions For 2015

Riding on the tail of Leah Shafer’s post yesterday on the past year in Texas real estate, today Realtor.com released its predictions detailing predictions for 2015. In their top 10 list of real estate markets to watch for next year Dallas-Fort Worth is expected to make big gains.

1) Millennials will drive household formations: As we millennials grow up and get out of the roommate game, we’re going to take advantage of low mortgage rates and affordable housing markets.  “Households headed by millennials will see significant growth as a reflection of economic gains,” the report stated. “Millennials will also drive two-thirds of household formations over the next five years.”

2) Existing home sales will increase +8 percent: Buyers, motivated by the expectation of rising rates and home prices, will choose 2015 as the year to buy, but instead of focusing on new construction like they did in 2012, homebuyers will look to existing homes. Baby boomers will drive many home sales as they downsize, and millennials will make up 65 percent of first-time sales in 2015.

3) Home prices will increase between 4 and 5 percent: It’s your regular story of low inventory and high demand lead by job growth. This will be a problem for the markets where you’ll pay $500K and up for a closet with a glorified half bath like San Francisco and San Jose, Calif. Of course, this will also make more affordable markets like Dallas, Houston, and Atlanta more attractive.

4) Mortgage rates will end the year at 5 percent: Rates are forecasted to increase toward the middle of next year, so look for a robust spring buying season. That’s when I’d plan to list a home, for sure. There will be an uptick in more creative financing as demand increases ahead of forecasted rate hikes.

5) Home affordability will drop 5 to 10 percent: With higher prices, higher demand, rising rates, and yet still slow-to-catch-up salaries, expect fewer people in all to be able to afford a home. Incomes are expected to increase next year, but it’s yet to be seen if that will prove a measurable impact in overall affordability.



Deborah Boyd Headshot
Author:
Phone: 940-368-1306
Dated: December 5th 2014
Views: 952
About Deborah: My family has lived in North Texas for generations so I personally know the residential areas of Fri...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Is Now A Good Time To Rent - Is Now a Good Time to Rent?
Todays Typical Home Sells In Less Than A Month - Home buyers are out in large
4 Bedroom 3 Living Area Home Just Listed In Anna For 215K - Looking for your next home to fall
4 Of The Best New Hot Spots In Fort Worth - #1)The Shops at Clearfork 

Our Bloggers

The Doyle Team * - 2
Comprar Casa DFW * - 2
Gabrielle Armstrong - 5
Cara Balderas - 50
Tami Bennett - 45
Justin Blackburn - 1
Jessica Boozer - 18
Rhonda Borgne - 1
Olivia Borowski - 1
Jennifer Boyd - 2
Deborah Boyd - 390
Jamie Brannagan - 1
Kathryn Brick - 1
Annette Bruen - 20
Moira Brunken - 18
Beverly Bryant - 23
Ana Cantu - 1
Lisa Cardillo - 53
Bob Cardillo - 4
Lucina Cervantes - 11
Gregory Cornett - 2
Angela Cotten - 81
Missie Craig - 12
Greg Cunningham - 2
Sarah Dieter - 9
Belinda Duff - 5
Leah Ecob - 15
Kristine Edens - 3
Jill Elliott - 99
Laneal Ernest - 9
Nicole Espinosa - 27
Christopher Evans - 1
Heather Feragotti - 8
Mark Fischer - 2
Susan Florsch - 12
Jennifer Flynn - 9
Leslie Fogle - 101
Larry Frassinelli - 6
Chad Gabriel - 58
Shalee Garza - 10
Timothy Gilliam - 2
Christina Gonzalez - 5
Wilma Goodwin - 2
William Graves - 5
Kristen Henderson - 1
Beth Herr - 1
Hunter Howard - 1
Sandra Hunt - 89
Bill Hurd - 3
Gary Hutchings - 20
Rachel Jama - 47
Trenton Johnson - 15
Felicia Johnson - 79
Dakota Joyner - 3
Jemi Khan - 26
Leigh Klotz - 5
Amber L Johnson - 8
Michele Lafortune - 22
Wanda Lewis - 2
Stacy Lynn Massar - 27
Jennifer Menting - 17
Mikki Migis - 8
Richard Mikus - 1
Sean Moniri - 21
Naddia Morales - 10
Keith Moses - 9
Mark Mulch - 19
Erick Murphy - 6
Steve Murray - 1
Julie Nicholson - 10
Nikki Okpuzor - 3
Alan Oliver - 7
Kelly Oltmann - 4
Kaysone Orlando - 1
Holli Paddio - 3
JP Piccinini - 50
Julie Ann Pickering - 85
Ann-Marie Pope - 2
John Priestash - 12
Joshua Putman - 111
Mimi Rader - 1
Shelia Randolph - 33
Teneka Ray - 1
Go 2 Girls Realty - 173
Bethany Rowan - 15
Kristi Roy - 1
Kelly Rumney - 9
Amy Jo Saenz - 3
Linda Scardis - 4
Sandy Setliff - 215
Christine Shannon - 29
Rene Sinclair - 27
Shelby Smith - 3
Bryce Smith - 5
Monica Solkhon - 1
Rodrigo Sotomayor - 16
Jenna Stanley - 9
Tim Stoll - 6
Kelley Stubbs - 3
Melodie Sulgrove - 1
Seana Taylor - 208
Mary Taylor - 14
Kevin Taylor - 15
Julian Taylor - 17
Erica Taylor - 54
Angela Taylor - 1
Karla Terrell - 2
Joey Thomas - 2
Michele Thompson - 6
Jason Todd - 24
Andrea Trimble - 55
Diane Velez - 17
Debbie Viverito - 132
Nick Walton - 75
Spring Weeks - 9
Clint White - 1
Michael Worley - 160
Keisha York - 30
Audra Young - 1
Debbie Zurita - 17

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP And Associates REALTORS
6175 Main Street #355 Frisco Texas 75034
Frisco, TX
972-375-9448
4692875503

Other Locations