What's Your Crystal Ball Saying for the Real Estate Market in 2014?
Many people are wondering what the new year will bring for the housing industry. Below is a summary of what experts are predicting for the 2014 real estate market on the national level.
- Home values are expected to appreciate around 4.3% or even higher by some optimists.
- Home sales will surge. Many housing pundits expect sales to be higher in 2014 than 2013. The three categories of buyers that will create this demand are first time home buyer, the move-up buyer, and the immigrant buyer.
- Demand may exceed supply. Experts expect a dramatic increase in demand for housing. As the spring selling season approaches, we will need to see a new wave of salable housing inventory to keep up with the increasing demands of buyers.
- Interest rates will increase by end of 2014. Projected rates are anywhere from 4.8% to 5.3%, although some experts predict even higher rates.
Bear in mind these are projections based on the US as a whole. While they give a good overall picture of the industry, we need to bear in mind that all markets are local and may not follow the national trends. Contact me to know how your local market is impacting the value of your home. 603-526-4116, www.donnaforest.com, donna@donnaforest.com.
