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2015 a Banner Year for Real Estate

Posted on January 7, 2015

iStock_000018780863SmallAfter a relatively slow housing market in 2014, analysts and economists have high hopes for the New Year. According to Florida Realtors(R), the Florida real estate market is expected to “build momentum across the board” this year and is large part due to a strengthening economy.

So, what can we expect in 2015? Well, millennial employment is expected to increase and drive two-thirds of the household formations. This combination will likely drive more first-time homebuyers into the marketplace.

Additional projections include stabilized home prices and rising mortgage rates. Low dipping mortgage rates are expected to inch up to 5 percent by the end of 2015, but home values have slowed in growth and shown consistency with long term historical performance.

As far as the economy goes, the stronger it is, the greater the confidence in the housing market. We don’t disagree with chief economist at CoreLogic and his statement about confident consumers being “more likely to spend money on big ticket items” which is great news for the real estate market.

For more information about the real estate market and Northwest Florida home sales, contact Brad Shoults today at 850-269-9999.

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