Real Estate Trends for 2015
As 2014 comes to a close, it is only natural that investors and prospective homebuyers turn their attention to 2015. What will the New Year bring us in the real estate market? What kind of year will it be? Will it be a good year to buy? To sell? To invest?
If you are a professional athlete or celebrity, and relocation is a constant reality for you, then these are important questions. The answers to these questions could mean millions of dollars to you.
Based on several studies, the following trends are a very real possibility for 2015.
- There will be a considerable rise in the number of young people who purchase homes in 2015. The population of Millenials is increasing; it is only natural to assume, then, that the number of Millenials who wish to purchase a home will increase.
- The lower mortgage rates go, the more demand will increase, and historically, mortgage rates always dip at the end of the year. Thus, we can look for an increase in real estate sales at the end of 2015.
- Home prices will rise. The economy is stabilizing. Employment rates are rising. Investments are rising. Supply and demand states, then, that home prices will rise. Of course, please note that this depends on the area you live in. Areas like San Francisco, where prices have skyrocketed, may be out of reach of many young buyers, but areas like favorable Atlanta are very attractive to first-time home buyers.
Now, having said all that, remember that when we are talking about luxury real estate, the rules and trends don’t always apply. The best decision you can make if you are in the luxury real estate market: work with a broker who is familiar with the luxury market.
Sports Relocation, Inc. Sports Relocation, Inc assist players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.