2014 Expected Housing Trends
Posted on January 9, 2014
It’s a new year which means potential new developements in our recovering housing market. While we have touched on some changes to mortgages in 2014, there are also some emerging trends to watch for, especially if you are considering buying or selling property in Northwest Florida this year.
As you may be aware, demand is high but inventory has remained low, pushing the prices of homes for sale higher. This is expected to continue, although at a somewhat slower pace. Part of the reason is that new home construction has not quite recovered to its traditional numbers. While new home growth can still be seen in our area, the prices of land, labor and materials may keep it from charging ahead full steam for a few years. Another trend could be the easing of the mortgage process. While new regulations will stipulate documentation and other procedures required to obtain a mortgage, lenders are becoming more comfortable insuring loans, even those with a down payment of as little as 5%.
Despite the trends, if you plan to purchase or sell your home on the Gulf Coast contact Brad Shoults Real Estate today. We can give you up to date information on where the local market stands and what you can expect during the sale or purchase process!
Posted in: Real Estate Market, Real Estate News, Real Estate Tips |Tagged: 2014, Real Estate, Trends.