2014 Housing Forecasts in a nutshell:
I've combined various expert sources weighing in on the national housing market and came up with this summary of predications, plain & simple.
I've combined various expert sources weighing in on the national housing market and came up with this summary of predications, plain & simple.
- Home sales will maintain their 2013 levels. That means no new growth, but will remain at same levels which were up 10% compared to 2012.
- Home prices will rise by 3% to 6%.
- Mortgage rates will rise between 5% to 5.4% by year end 2014.
- It will be easier for buyers to get a mortgage in 2014 compared to 2013.
- New home sales will rise.
- The inflation rate will rise 2.7%.
- Homeownership rates will fall to their lowest point in nearly two decades.
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