What’s the Housing Outlook in 2015?

Now that the holidays are in full swing, it can be a good time to look into what housing may have in store for 2015. Are you thinking of buying? Moving? Selling? Downsizing? Building? Investing? Are experts predicting that the upcoming year will prove auspicious for such activities? According to Pat Mertz Esswein, in her recent article, Housing Outlook 2015, real estate prices will continue to increase but affordability is still within reach for the average homebuyer in many metro areas.

Those looking to buy a home in 2015 may face modest price increases but lower interest rates, making it a good year to buy. Kiplinger is predicting that housing prices will go up by 3.5 percent over the next year. This past year, first-time homebuyers were not a big contributor to home sales but as economic conditions improve, these buyers will surely feel better about entering the market.

Homeowners seeking to sell their properties may want to take advantage of the upcoming year as well. While Hampton Roads may not be considered a true seller's market, conditions may prove favorable for those who list their turnkey homes at realistic prices. The ultimate result will also depend on whether sellers want to buy another existing home, buy a home outside the area or build a new home. But it does appear that 2015 is ripe with promise for sensible sellers.

It looks like 2015 holds many opportunities for both buyers and sellers, but before making a move be sure to seek the guidance of an experienced real estate professional for best results.

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Categories: Home Buying Real Estate Investing Home Selling Moving Real Estate Market Regional

Cities: Virginia Beach Chesapeake Norfolk Williamsburg Newport News Hampton Suffolk Yorktown Richmond

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