HAPPY NEW YEAR!
2014 will be known as the year that the real estate market steadied its pace. Overall, the gains in prices and sales were modest when compared to other years, and while sales may have flattened in the fourth quarter, the year as a whole rewarded us with an easy climb to a healthier and more stable market. Healthy and stable is sustainable for the long term and we’ll take it!
Real estate markets are local so to determine exactly how your community fared in 2014, look to the graph or ask your Coldwell Banker Residential Brokerage sales professional who can explain how pricing, inventory and recent sales in your area impacted your market.
Of course the one question everyone wants answered is what will happen to real estate in 2015.
Some economists and industry watchers claim that job growth and the overall economy, both key factors that affect the housing industry, are poised for expansion in the coming year. Additionally, with recent price appreciation, and greater home equity, some are predicting that more home sellers will be entering the market. We’ve also heard that economic job growth may be slow or stagnant.
While opinions and forecasts vary, the reality is, real estate remains an investment that can bring long-term gain. With proper planning, a home purchase has historically proven to be one of the strongest investments one can make. So despite any predictions about the market being up or down, flattening or rising, we at Coldwell Banker Residential Brokerage know that there is great value in owning real estate and remain positive that we will continue to see improvement in 2015.
If you want to own a home, or if you need more detailed information about selling a home in today’s market, please feel free to contact a sales professional affiliated with Coldwell Banker Residential Brokerage. A sales professional can explain the home buying and selling process and can guide you through each step of the way.
We look forward to welcoming in the New Year and assisting you with all your real estate needs in 2015 and beyond. Happy New Year!