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5 Housing Market Predictions for 2015

The outlook on the housing market is looking brighter in 2015.  Realtor.com says prospects are good for homeowners and would-be home buyers due to job and income growth from an accelerating economic recovery.

Here are the top 5 housing market predictions for 2014 from Realtor.com

  1. Mortgage rates will head back up. Realtor.com’s Chief Economist say mortgage rates will increase before the Fed’s expected move to increase the federal funds rate in mid-2015.
  2. Millennials will set up house. 65% of first-time homebuyers are part of this older millennial group (ages 25-34), according to Realtor.com.
  3. Builders will break new ground, with a 21% growth in starts expected.
  4. Credit will continue to be a factor.
  5. We’ll close out the foreclosure crisis. There are already fewer foreclosures and short sales, and that will continue to improve.Source:  Realtor.com

Let Edmond’s #1 realtor help you sell your home – contact Brad Reeser today!

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