2014 Housing Predictions and Markets to Watch
According to Trulia.com their Chief Economist Jed Kolko predicts the following:
- Rising Prices and Higher Mortgages will make buying a home in 2014 more challenging and in some markets it would probably be a toss up between renting vs buying.
- He also predicted that there will be more inventory in the market place and that will cause buyers to be more relaxed about buying. Of course the investor market will be more cautious and therefore buyers may not have to compete for properties. Credit may also be more easy to secure.
- The investor dominated 2013 but the repeat homebuyer will buy homes in 2014 as the investor buyer becomes more selective.
- Home prices may not rise as much as in 2013 and more inventory and less investor activity will stop overvaluation of property.
- Young adults that move out of their parents homes will create a movement back to rental condo's and apartments in urban areas, instead of purchasing homes as first time home buyers.
Trulia predicted the following markets to watch in 2014:
As a result of strong economic growth and recent job creation and job opportunities becoming more available, Jed Kolko predicts that these 10 will be the markets to watch in 2014 and written here in alphabetical order and not number order
- Bethesda-Rockville-Frederick, MD
- Charlotte NC | SC
- Denver, CO
- Fort Worth, TX
- Nashville, TN
- Oklahoma City, OK
- Raleigh, NC
- Salt Lake City, UT
- Seattle, WA
- Tulsa, OK
Are you considering a move in 2014? Buying or Selling, I am here to help you
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