The Outlook of Housing in 2015
The month of July seems to be creeping to a close faster than ever and with it will go the “hot housing season” of the summer months. The coming months will likely bring cooler weather, the start of school sessions, and before we know it, the holiday season. So where will that leave the housing market?
The year of 2015 has thus far seen a steady and expected recovery within the market. While it didn’t have the impact one might have hoped, the surge in homebuying and selling increased this year over recent years. However, rates also rose this year still keeping potential prospects from jumping into the market as soon as they had hoped. The rest of 2015 could prove to be a very telling time in the industry.
As the market cools in preparation for the off-season, experts predict we could see an increase in rates once again. On the upside of things, however, is the fact that underwater and distressed sales are at their lowest level since the crash of the market.
While some hoped 2015 would be a breakthrough year, it is proving to be another rebuilding period potentially bolstering 2016 to new heights. Stay tuned for more information on the housing market and its outlook.