With the New Year, many people are wondering how the housing market will shape up for 2015. After a drop of nearly 5% on home prices last year, real estate prices are finally making a comeback. This and some other new development have us at The MoJo Team – Scottsdale Realtors optimistic about this year’s market forecast!
Starting off the New Year with a bang, President Obama’s recently gave a speech in Phoenix about the plan to cut mortgage insurance costs for first time home buyers. The U.S. Department of Housing and Urban Development predicts that this plan will make home-ownership more affordable for hundreds of thousands. This plan is expected to allow as many as 250,000 families the opportunity to get into their first home this year.
Some agents would consider these predictions overly optimistic, predicting that fewer houses here in Arizona will sell this year, as homes are averagely spending longer on the market than they were two years ago. As a number of factors are making flipping houses difficult at the moment, fewer seasoned buyers are purchasing second homes. However, it has been suggested that as banks loosen the stringent requirements on first time home buyers the number of first time buyers may increase dramatically.
What the 2015 changes in real estate mean for you!
As more and more reports pop up of the real estate market showing more life now at the start of 2015 than it has in several years, it is no surprise that people are ready to actively move on such a positive upswing. Residential projects which had been halted due to the floundering market are being picked up again and companies are purchasing foreclosures for the purpose of revitalizing communities for the impending wave of new buyers.
The market has always cycled through ups and downs and now as it appears hopeful that this year’s market will be up, people are preparing to make the most of the opportunity, and you should as well! Whether you’re an empty-nester looking to downsize or a young family looking for a first time home, take advantage of these optimistic changes in the market and find a realtor who can help you. Whether buying or selling, downsizing or upgrading, we can help you make the most out of this year’s housing market!
Contact The MoJo Team – Scottsdale Realtors and see how we can use the current state of affairs in the housing market work for you!
After years of instability, the housing market appears to finally be normalizing with opportunities to shape up quite well this year. With so many optimistic trends and predictions, now is the time to make your move. With good news for both sellers and buyers on the horizon, now is the time to find a realtor