Real Estate Trends to Watch for 2015

The CEO of MRIS, our local MLS, has written an article on the trends to watch for 2015. The full article is below. Here are my own comments on what I see in the market.

1. Inventory: The number of desirable available homes for sale have not been able to meet buyer demand in 2013 and 2014. As the general public has started to realize the market is healthy, inventory should increase.

2. Price: Average sale prices have been at an all time high in 2013 and 2014. With increased inventory, sales prices will stabilize this year.

3. Interest rates: The trend indicates that rates will be best early this year with increases in the later half of 2015.

4. First-time buyers: Lending requirements have loosened a bit since last year, so buyers should have more success getting loan approval this year.

5. Neighborhoods to Watch: DC real estate is the hottest in the area. East of Capitol Hill, Brookland, H Street are all good buys for first-time buyers and savy developers.

Five Real Estate Trends to Watch in 2015 by David Charron, MRIS CEO

 

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