National Association of Realtors Real Estate Predictions 2013 to 2015 The National Association of Realtors chief economist Lawrence Yun recently shared his forecast for the next couple years. Forecast No. 1: Inflation will be notably higher by 2015Yun expects inflation to rise between 4 percent and 6 percent by 2015, largely due to increased rent rates. That would be well above the Fed’s preferred rate of 2 percent, but lower than the double-digit increases of the 1970s. Forecast No. 2: Meaningfully higher home pricesHousing demand is up and supply is down. You don’t have to be an economist to know that means prices are headed up, but you do need to be one to predict how much prices will climb. Yun said 15 percent cumulative growth is likely over the next three years. Median home prices increased 7 percent last year, but the rate of growth could speed up or slow down depending on housing starts. Forecast No. 3: More unequal wealth distributionThe renter population is growing, while the number of homeowners has remained stagnant. Home-ownership often builds wealth, while renting generally does not. Many renters who would normally transition into first-time homebuyers are finding it difficult to buy due to the tight credit market. By: Craig Lescoe
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Call me, Kim Guest to find out what your home is worth!!
Author:Kim Guest Phone: 864-918-0066 Dated: November 21st 2013 Views: 3,019 About Kim: ...
With approximately 50 years combined experience, Guest Group brings a wealth of varied experience in both Residential and Commercial Real Estate.
We are loyal, ethical and very dedicated to our clients. We give exceptional service and continue to have our clients for life. We compliment each other and understand the Real Estate Industry and the Local Market.
We have strong negotiating skills and transaction servicing that will ensure you of a successful real estate experience.
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