Real Estate Looking Up
The good news for 2015 is that the U.S. economy appears well-poised to sustain about a 3 percent growth rate in 2015 — only the second year in the past decade with growth at that pace or better.
Freddie Mac indicates that an improving economy with higher paying jobs will support the housing activity in 2015.
5 Things To Expect
- Increasing Mortgage Rates – 30-year fixed-rate mortgages up to 5% by the end of next year.
- Continued but slowing home appreciation – 3% (4.5% this year).
- Housing starts ramping up – 20% rise from this year.
- Single-family mortgage originations will continue to slip – 8% decline due to refinancing dips.
- Multi-family mortgage originations will increase – 14% projected increase.
Keep in mind that no matter what the rates are, people will be buying and selling homes. As a real estate professional who takes personal interest and value in you and your time, I believe that’s what contributes to me staying busy. I’m just honored to be able to help my client find the right roof to put their family under. Homes will sell, rates will change, but Skyrise Real Estate Group is here to help you make sense of it all in the best interests of your loved ones.
