Three Housing Predictions for 2014

As 2013 comes to a close, it’s time to look ahead to see what trends we may see in the housing market in 2014. 1. More inventory at higher prices. All the distressed property from the last 5-7 years is starting to dry up. Sellers will likely see better profits than they have in years. Homes right now are priced to cater to sellers, and we will likely see the end of the “buyer’s market.” 2. Mortgage rates will continue to rise. Mortgage rates have risen over the past few months and the positive trend seems to likely continue throughout 2014. 3. Mortgages will be easier to get. Higher mortgage rates have cut refinancing activity and pushed banks to ramp up their purchase lending. There are also new mortgage rules coming out in 2014 that may cause banks to be more willing to lend. What are your predictions for the 2014 housing market? #CobblestoneRealty #RealEstateTips #SouthFlorida #HousingMarket
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