Determining Whether To Buy Or Sell In 2015
In order to find success in the real estate market, you must understand the trends of the local market. Whether you are looking to buy or sell in 2015, it is important that you are diligent in researching the latest happenings in the real estate market. Keep these important real estate trends in mind when navigating the world of real estate:
At the end of 2014 real estate experts and enthusiasts revealed predictions that home buyer demand would increase in 2015. However, who knew that home buyer demand would increase at this rapid rate? In the midst of April we can clearly see that mortgage applications are on a continuous journey upwards, showing a direct connection between home buyer demand increases. MBA’s Chief Economist, Mike Fratantoni expressed that this rapid growth in home buyer demand has allowed us to see levels mirroring July 2013.
As an individual looking to enter the market, it is important to note that increased home buyer demand often equals an increase in home prices. Also, with inventory problems present due to a lack of urgency for sellers to put their homes on the market, an imbalance in the market is evident. With low mortgage rates in combination with seller inaction and increased home buyer demand, the imbalance is forcing many to question their real estate transactions. Yet, with the economy making a come back, both renters and first time buyers are eager to experience the homeownership journey.
For all of your Bay Area real estate needs, contact Andraya Coulter in Pleasanton. Serving Northern California, I am plugged into the community and am here to help you find your dream home.