RE/MAX of Southern Ohio Names Top Real-Estate Trends for 2015
CINCINNATI, March 31, 2015 /PRNewswire/ -- As we enter the peak real-estate season, RE/MAX of Southern Ohio names the top housing trends to watch in 2015. The trends are forecasted by the top brokers of RE/MAX of Southern Ohio and are based on current market conditions. With more than 400 sales associates and 40 offices, RE/MAX of Southern Ohio is a real-estate leader, servicing all of southern Ohio and northern Kentucky.
- Housing inventory will remain tight.
RE/MAX of Southern Ohio anticipates there will not be enough homes on the market to meet buyer demands. While many homeowners have recouped some equity in their homes, they still may not be ready to sell in 2015. - Prices will continue to increase, but likely at a slower rate.
RE/MAX of Southern Ohio expects home prices to continue their upward rise in 2015, but at a slightly slower pace as the market begins to stabilize and return to normal. - Higher rents will push many into housing market.
As rent prices continue to rise throughout southern Ohio and northern Kentucky, many renters will find fixed monthly payments very attractive. As the housing market continues to stabilize and confidence builds, expect many renters to make the jump to home ownership in 2015. - Millennials will become largest first-time group of homebuyers.
By the end of 2015, millennials are expected to represent the largest group of first-time homebuyers. This group tends to favor smaller homes in more urban areas -- these areas in southern Ohio will likely benefit from millennial purchasing activity in 2015. - Looser lending restrictions make home ownership more accessible.
2015 brings a loosening in credit requirements. Buyers with good credit and steady employment may be able to secure a loan even if they don't have enough for the traditional 10 or 20 percent down payment. Additionally, more buyers may be eligible for home loans this year as previous foreclosures and short sales come off their credit reports.
"Overall, 2014 was a strong year for southern Ohio's and northern Kentucky's housing markets," said Jeanette Schneider, senior vice president, RE/MAX of Southern Ohio. "None of us have a crystal ball, however, based on current market trends and conditions, we remain very optimistic about 2015 and expect this trend to continue."
SOURCE RE/MAX of Southern Ohio
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article