I predict that 2014 will be a very strong year again for the housing industry! There is a tremendous amount of pent up demand for housing and as the market continues to improve and prices and interest rates rise it will spur more people to action! Do you want to be ahead of the curve and make your move before the market heats up again in the spring? If so now is the time to start! Warm weather and sunny days are right around the corner and just like every other year, once spring starts the market heats up again!
Making predictions in what is still a somewhat volatile housing market can be tricky. That being said, we are going to give you what we believe will be the five biggest headlines for housing in 2014.
Home Sales Will Surge
Many housing pundits are calling for home sales to do slightly better in 2014 than they did in 2013. To the contrary, we strongly believe that home sales will skyrocket with increases of 10-15% in 2014.
Supply Will Struggle to Keep Up with Demand
With a dramatic increase in demand, it will be up to real estate professionals and builders to make sure there is the necessary inventory to satisfy this demand. This will be a challenge for much of the year.
Interest Rates Will Increase Significantly
Most experts are calling for an increase in mortgage interest rates in 2014. However, we believe the increase will be more dramatic than is being projected. We believe rates will be closer to 6% than 5% by year’s end.
Consumers Will Demand More from Real Estate Professionals
Home search will become a given to the real estate consumer in 2014. In order to differentiate themselves from other agents, real estate professionals will need to bringstrong, meaningful content to the table in all their offerings
Go Mobile or Go Home
Any content strategy the industry contemplates must have a mobile component. All information will be accessed 24/7 in every conceivable environment. The professionals who understand and act on this will dominate 2014.
We will break down all five projections next week, covering one in greater depth each day.