Buy Sooner Than Later
Home value appreciation will continue to cool down, from roughly 6 percent now to around 2.5 percent by the end of 2015. But rents will see no such slowdown, and will continue to grow around 3.5 percent annually throughout 2015. As renters’ costs keep going up, I expect the allure of fixed mortgage payments and a more stable housing market will entice many more otherwise content renters into the housing market.
Residential rental prices will continue to climb in 2015.
Since paying more on rent will make it harder for would-be homebuyers to save for a down payment, it probably makes sense to buy a home sooner than later.
Contact Skyrise Real Estate Group today for Silicon Valley’s personalized and client focused solutions.
