For middle class buyers in the USA,. 2015 should be a great year with more homes inventory coming on the market, according to Jed Kolko, chief economist with Trulia.com in San Francisco. With recent home price appreciation expected to begging to flatten up, current home owners will have incentive to sell before prices begin to dip again, Kolko said.
The median sales price for single family homes in 2014 wasan estimated $217,300 an increase of 4.9% from 2013, when the median sales price was $197,400, according to NAR National Association of Realtors.
Mortgage rates are expected to stay low.
Mark Livingstone, a mortgage broker and president at Cornerstone First Financial in Washington, D.C., says he sees a prosperous 2015 ahead, and he plans to add to his staff of mortgage officers as a result. The key factor? “Interest rates are going to stay low because of geopolitical unrest, and that will keep inflation in check, along with lower oil prices. That will translate into more buyers starting as soon as February,” he said.
If you like more information on this great news and how you can take advantage of, regardless of whether you are a buyer or seller, please do give me a call to setup an appointment and I can explain it all at 760-235-9688.