Will we see an increase in listings in 2015?
That is the million dollar question. If not, then we might see builders go into overdrive in an attempt to address pent up housing demand.
By the end of 2015, the average 30-year fixed rate mortgage is expected to rise to right around 5%.
We expect to see local home prices continue to appreciate in 2015, but at somewhat slower rates that are more sustainable over the long term. However, it is possible that price growth may continue to escalate faster than anticipated, even if we see the number of homes for sale increasing, if a higher proportion of those homes coming to market are high-end homes.