The University of Georgia’s Terry School of Business just released six key projections for “National Housing” in 2015.
- Mortgage rates will remain a bargain but will rise by about .5% during the course of 2015.
- Home values will appreciate around 4% over the course of the year.
- New construction home starts will increase by about 30% to a little less than one million units.
- Job and income growth will give consumers greater confidence to buy homes. It will also be the key to unlocking pent-up demand for housing built up by many young adults who opted to stay home a bit longer.
- Credit conditions will ease in most markets but credit will remain tight for riskier loans.
- Three adverse conditions will continue to create a drag on housing:
- Many households are “upside down” owing more than a home is worth and unable to upgrade or downsize.
- Record breaking student loan debt is preventing many young adults from being able to move out on their own.
- Low appraisal values from certain lenders continue to stymie conventional lending.
It will be interesting to see what happens over the next 12 months. At Epic Development, we are preparing for another record breaking year with new homes in Brookhaven, Grant Park, Old Fourth Ward, Ormewood Park, Reynoldstown, Riverside and Sandy Springs. View all the details of our current listings here. For more information about our homes, contact Scott Eaves at (404) 518-3820 or firstname.lastname@example.org.