2015's Housing Market Predictions and Estimates

2015's Housing Market Predictions and Estimates

Brittany Bosher
Posted by Brittany Bosher
| Internet Marketing Team
Updated on
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Published in Market Updates
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Predictions for the housing market in Palm Beach County for 2015 resemble the trends we saw in 2014. In 2014’s market the year began with double-digit price surges and a lack of inventory but it quickly steadied and leveled out. The local housing market is kicking off the New Year with substantial price increases, scarce inventory levels and bidding battles between buyers much like last year’s trend. However, experts and analysts are expecting this boom to stabilize at some point mid-year. These experts are calling this year’s market trends “the first full year of normal following a decade of extremes.” 

Don’t be confused by these “normal” predictions. Normal is a very positive description for this market. Bill Hardin, the director of the Hollo School of Real Estate at Florida International University sums up a “normal” market perfectly by saying, “Simply being a market where people can conduct transactions, make a living, sell and buy, is a very, very positive thing.” 

THINGS TO EXPECT IN 2015’S MARKET 

Different analysts and companies are releasing their estimations for price gains in Palm Beach County residential real estate and all have varied. Zillow released a report expecting 2.4% gains and Hardin expects a rise closer to 6%. What most of the experts can agree on is South Florida will be one of the leaders in the nation due to height of new home construction and an even higher demand for more new homes. Consumers have been gobbling up new homes and homes available for sale while developers are depleting reserves of developable land. “Palm Beach, Broward and Miami-Dade counties had three consecutive months of the nation’s highest price gains beginning in August,” according to Standard & Poor’s and Chase-Schiller Index. 

For first time home buyers, the year’s trends are looking hopeful as low interest rates are expected to hover around an acceptable range as well as less room for investors to snag homes at uber low prices. Another positive note from the price gain for homeowners is greater equity, thusly putting them in a better position to sell. 

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The data relating to real estate for sale on this web site comes in part from a cooperative data exchange program of the Realtor® Association of Martin County, Inc. MLS. Real estate listings held by brokerage firms other than Waterfront Properties and Club Communities are marked with the IDX logo (Broker Reciprocity) or name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed.

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Listing information last updated on April 20th, 2024 at 12:22pm EDT.

The data relating to real estate for sale on this web site comes in part from a cooperative data exchange program of Palm Beach Board of Realtors Multiple Listing Service. Real estate listings held by brokerage firms other than Waterfront Properties and Club Communities are marked with the listing broker's logo or name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed.

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Listing information last updated on April 20th, 2024 at 12:22pm EDT.

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®, and is updated as of April 20th, 2024 at 12:22pm EDT (date/time).

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Listing information last updated on April 20th, 2024 at 12:22pm EDT.