For Sale by Owner: Markets to Watch in 2015

For Sale by Owner: Markets to Watch in 2015

Is your For Sale by Owner (FSBO) property in the top 10 markets to watch in 2015? If you’re thinking about selling FSBO in the upcoming year, consider the recent housing forecast released last week by Realtor.com. Last week the realty website’s chief economist, Jonathan Smoke, suggested that existing home sales will continue to trend upward and will be driven by the millennial generation returning to the housing market. Predictions of new home sales will increase by 25% and certain markets will experience a flood of young first-time buyers as wages and employment improve.

What to expect in 2015? The 5 predictions from Realtor.com’s housing forecast are:

  1. Millennials will drive household formations
  2. Existing home sales will increase +8%
  3. Home prices will gain +4-5%
  4. Mortgage rates will end the year at 5%
  5. Home affordability will decrease 5-10%

Included with the housing forecast is a list Smoke’s top 10 market picks for 2015. These cities are expected to see strong housing growth, affordability, and accelerated sales.

Selling For Sale by Owner? Top 10 Markets to Watch for 2015:

For Sale by Owner Markets to Watch 2015

  1. Los Angeles, CA – 2015 home sales forecast: +6%
  2. San Jose, CA – 2015 home sales forecast: +3%
  3. Phoenix, AZ – 2015 home sales forecast: +11%
  4. Denver, CO – 2015 home sales forecast: +14%
  5. Dallas, TX – 2015 home sales forecast: +7%
  6. Houston, TX – 2015 home sales forecast: +5%
  7. Des Moines, IA – 2015 home sales forecast: +9%
  8. Minneapolis, MN – 2015 home sales forecast: +9%
  9. Atlanta, GA – 2015 home sales forecast: +11%
  10. Washington, DC – 2015 home sales forecast: +10%

Data Source: PRNewswire, Realtor.com

 

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