It’s a new year and that means new predictions for the housing market.
In 2015, predicts Guardian Mortgage, the industry should expect home prices to rise and foreclosures to decline so that foreclosure rates return to normal. Baby boomers are likely to stay out of the market and home refinancing will slow down as others took advantage of previous years’ historically low interest rates. Inventory may have an impact on home sale prices in 2015 as more homes hit the market. There are also expected to be changes in the credit market and mortgage sign-offs, which could affect the housing market in 2015.
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