Upon wrapping up 2014, it seems timely to evaluate the overall state of the real estate market. As we assess where it’s been over the past few years, it is clear that it is definitely in a strong place where it will move forward over the next few years. By simultaneously comparing projected house sales alongside projected home values, the market strength can be viewed.
The Price Expectation Survey reflects that future home values are expected to experience steady appreciation. Research has been conducted by the Mortgage Bankers’ Association (MBA), the National Association of Realtors (NAR) and Freddie Mac around the movement of the housing industry. Specifically, we are looking at the number of home sales (new and existing homes) over the next (2) years. As you can see the housing market is back- all (3) entities show that in 2015 and 2016 home sales are increasing.
All three entities see the number of home sales increasing in both 2015 and 2016. This is further proof the housing market is back.
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