Welcome to 2015! We certainly hope you’ll look back on 2014 with fondness, but a look at the crystal ball reveals the year ahead may be even more positive for the housing market.
In an article titled “10 Reasons 2015 Will Rock,” the Melissa Dittmann Tracey of the National Association of Realtor consolidated industry forecasts and predictions for what’s sure to add a little swagger to your step — and hopefully make your new year even happier.
While there’s always a risk prognostications will be woefully wrong, we’re encourage by the reasoning behind some of these forecasts. Among our favorite headlines:
Millennial force. “According to some forecasts, Millennials are expected to drive two-thirds of household formations over the next five years.”
New-home sales rebound. “Sales of new homes are expected to rise 25 percent as single-family construction picks up traction in 2015.”
Drop in oil prices will boost housing. “So while the drop in oil prices typically has been linked to a reduction in driving-related expenses, it clearly also reduced energy-related expenses for residential real estate.”
Stronger economy leads to greater confidence. “A stronger economy will likely lead to more demand for housing in 2015.”
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