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4 good signs for the real estate market in 2015

January 20, 2015

4 good signs for the real estate market in 2015

As we enter 2015, various factors are combining to make it seem likely that this year will be one of the best in recent memory for the housing market. Finally bouncing back from the 2008 crisis, the market will be full of new growth and movement this year. Here are a few of the things that lead us to feel optimistic that 2015 will be a good year for real estate:

Strong job growth: Reports indicate employees are expecting to hire more new full-time, permanent workers this year than in recent years, allowing many people to build up the financial credentials and stability required to take on a home purchase.

High rent: Rental rates across the country, especially those in major cities, are at a seven-year high and don’t appear to be dropping anytime soon. This will motivate a lot of
renters to investigate homeownership as a possible money-saving strategy.

Home prices rising slowly: Between January and October 2014, home prices rose by only 4.5 percent, a low figure compared to the increase of 11 percent between January and October 2013. This relatively slow inflation rate means that some people who were considering buying a home last year but were priced out may be able to try again this year.

Millenials moving toward homeownership: According to a Money Magazine survey, 78
percent of 18-to-34-year-olds consider homeownership to be a part of the American Dream, and with employment prospects improving for those in this age group, some of them will likely be able to realize that part of the dream this year.

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