Great News! The following article projects the moving forward market for both existing and new construction sales for 2015 and 2016. The upcoming years will be an excellent opportunity for those clients of ours who have been waiting for the market to bounce back.
As we finish 2014, it appears the real estate market is once again on solid footing and ready to advance forward over the next few years. The strength of the market can be viewed using two metrics: projected home values and projected house sales.
We recently reported that the Home Price Expectation Survey revealed future home values will continue to appreciate nicely. Today we want to look at projections on the number of home sales (existing and new construction) we will see over the next two years. We researched what the National Association of Realtors (NAR), Freddie Mac and the Mortgage Bankers’ Association (MBA) are projecting for the housing industry going forward.
Here is what we found:
All three entities see the number of home sales increasing in both 2015 and 2016. This is further proof the housing market is back.