Real Estate Market Stabilizing

Real Estate Market StabilizingA Healthier Economy Makes For An Improved Housing Market

In the years since the economic downturn, the housing market has struggled. It looks as though the sun is finally breaking over this troubled land, however, as experts predict that 2015 will bring a healthier, more stable real estate market.

Changes in the economy are partially contributing to this improvement, as new jobs and a higher GDP have led to consumer confidence. Historically low mortgage rates have made it possible for hopeful buyers to become homeowners, but unusually high rates of the appreciation of home costs have kept some out of the housing market. Fortunately, home appreciation is expected to slow in 2015, meaning home prices will level out making it easier for potential homebuyers to secure the necessary loans.

More good news comes as Freddie Mac releases the Multi-Indicator Mark Index with a reading of 74.5. This is a 23.5 percent improvement from its lowest rating of 60.3 in September 2011. 29 of 50 states have shown improvement in their housing markets over the course of three months, and 41 of 50 tracked metro areas show improvement in that period.

As the economy continues to strengthen, unemployment declines, and the GDP rises, we should see the housing market continue to grow. The biggest obstacles to a healthier market are difficulties in obtaining mortgages due to tight credit standards, lack of available homes on the market, and increasing number of renters. These impediments, however, should not be enough to keep the housing market from improving in 2015, according to experts.

Whether you are looking for your first home or your forever home, Avis Lending can help you secure the mortgage you need to bring your home buying dreams to life. Serving Irvine, California and Lahaina, Hawaii, our team of home loan experts is here to get you into your dream home. Do not hesitate to contact us today!

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