What does the real estate market look like in 2015? Freddie Mac’s Vice President and Chief Economist, Frank Nothaft, presents the video above on the economic and housing market outlook for 2015.
Listed below are a few predictions by Freddie Mac’s Chief Economist:
1. Interest rates will rise to 4.6% in 2015.
2. House and condominium prices will be increase by a gradual moderation of 3% in 2015.
3. With the increase in interest rates and home prices rising, affordability won’t be as high as it is now.
4. Although affordability will be lower, real estate sales will still rise above 2014 numbers. The recommendation – its better to buy now than to wait.
What does the real estate market look like in 2015.
5. Rentals will be in strong demand and as result monthly apartment rents will rise.
6. New construction for single-family homes will increase.
What does the local real estate market look like in 2015? With inventory down the prediction is that Boston condo prices will continue to rise, but sale could be down.
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UPDATED JANUARY 2018