DALLAS, Dec. 29, 2014 /PRNewswire/ -- HomeVestors of America (the "We Buy Ugly Houses"® people), the largest buyer of homes in the U.S., topping more than 60,000 since 1996, is making a few predictions for the real estate market in 2015.
While David Hicks, co-president of HomeVestors, claims that his crystal ball is broken, both he and HomeVestors' co-president Ken Channell, believe that some common sense and a review of the numbers provide some clues on what can be expected for the upcoming year.
Predictions from Hicks and Channell:
"Home ownership is still desired by the majority of Americans." Historically, the investment in a personal residence has been a better long term investment than the stock market and any other type of investment. The current generation is placing more value on career than home ownership, which creates some downward pressure on the number.
"There is pent up demand." Existing home sales are still below the pace set in 2000, though the population is 12 percent more than the population in 2000.
"Inventory is low in most markets nationwide." Buyers searching for real estate will find more homes for sale overall, but supply of lower-priced homes is growing more slowly than high-priced homes in most of the markets in the country.
"First time homebuyers are below historical rates." Because of the tight lending practices, many first-time homebuyers have put off buying their first house. This is good for landlords since they will remain tenants longer.
"There is an increase in the availability of funds." Banks are easing restrictions. Investors are finding a big increase in the availability of funding sources.
About HomeVestors of America, Inc. Dallas-based HomeVestors of America, Inc. is the largest professional house buying franchise in the U.S., with over 60,000 houses bought since 1996. HomeVestors recruits, trains and supports its independently owned and operated franchisees that specialize in building businesses based on buying, rehabbing, selling and holding residential properties. Most commonly known as the "We Buy Ugly Houses"® company, HomeVestors strives to make a positive impact in each community. In 2014, for the ninth consecutive year, HomeVestors was among the prestigious Franchise Business Review's "Top 50 Franchises," a distinction awarded to franchisors with the highest level of franchisee satisfaction. In 2014, HomeVestors was recognized as the 25th fastest growing franchise by Entrepreneur Magazine and number 126 in the Franchise 500 by Entrepreneur Magazine. For more information, visit www.HomeVestors.com.