National Association of REALTORS® Chief Economist Lawrence Yun takes a look at the year ahead, discussing the outlook for housing and the economy in 2015. With increasing economic growth and job creation, the National Association of REALTORS® anticipates a healthy 2015 for real estate. This includes an expected 5% rise in home prices, a 7% rise in homes sales and a 30-40% rise in new home sales! See more of NAR’s 2015 outlook in this video.
- Many homeowners who were underwater may now have home equity. Find out how much your home might be worth in today’s market.
- Rents continue to increase. First-time homebuyers can take advantage of low interest rates and new mortgage products in 2015.
- Fewer distressed properties on the market means home prices will rise. Home inventory is low. It is a great time to sell!