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2015 Housing Market Forecasts by 5 Economists

By
Real Estate Broker/Owner with Cook Real Estate Services 202892

Five prominent economists were asked by “Housing News Report” to forecast what 2015 will bring for the U.S. housing market. The economists interviewed were all generally optimistic about this year’s home prices, home sales and interest rates and here’s what they are forecasting for this year:

 

Lawrence Yun, chief economist and senior vice president of research at NAR, forecasts that more buyers will return to the market due to improved job market conditions. Jonathan Smoke, chief economist at realtor.com, forecasts the new 3 percent down payment products coming from Fannie Mae and Freddie Mac should have a positive impact on the market and that job growth continues to favor the young. Therefore, opportunities will improve and will drive more interest in homeownership. Christopher Thornberg, principal at Beacon Economics, expects sales and price appreciation to pick up steam this year. Existing home sales should rise over 5 million and prices will probably accelerate by the end of next year. Mark Zandi, chief economist at Moody’s Analytics, sees that new and existing home sales are expected to increase by 20 percent this year, and optimism is the key for continued gains in the job market. Lastly, Jed Kolko, chief economist at Trulia, says that the strongest source of housing demand this year will be young people getting jobs and forming households, but they’ll be moving into rentals and saving for a down payment first instead of buying homes right away.

 

The economists are optimistic that homebuilding and home sales should finally see more growth this year and mortgage rates will go up. Overall, it sounds like a promising 2015 for the housing market. For all of your real estate needs, whether buying or selling, if you’re ready to look at getting started with your move in the market, contact Cook Real Estate Services today at  678-207-1505 or info@cookres.com, and one of our trusted professionals will help you every step of the way.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comments (1)

John Pusa
Glendale, CA

Thanks for the very helpful educational information about 2015 housing market forecast.

Jan 23, 2015 08:30 AM