It is right around this time of year that I start receiving questions about the real estate market and the up and coming year. Everyone wants to know what the trends will be so they can get a head of great deals. Well, after reviewing my own data – and that of my peers- I’ve come up with the top 3 trends that I predict will overwhelm the 2015 real estate industry on a national level.
- Interest rates will climb to a little over 4%. I truly believe the interest rates on the 30-year fixed mortgage will gradually climb to a national average of 4.8% – maybe even hit 5.2%- by this time next year! If you’re thinking about buying a home this holiday season, it is best to take action now!
- I believe will also see the best sales pace in eight years! Pricing will grow about 9% between now and this time next year, which means people will want to buy within the first two quarters to beat the full increase that will be reflected at this time next year.
- Multifamily mortgage originations will continue to go up. Over the past 5 years, these mortgages have steadily be on the rise. I’m predicting a jump by 20% over the next 365 days.
The end of 2014 and entire 2015 are going to present amazing options for both buyers and sellers. Right now, affordability is still within grasp for many people across the country- but especially in Northern California. If you have questions, or want to know more, please contact me via email and phone. Don’t forget to follow me on Instagram too! I’m listed as ‘WalnutCreekRealty’.