Welcome 2015

A stronger economy with solid job growth is expected to boost home sales in 2015. Though Charlotte has lagged the US economy both can be expected to improve in 2015! From Lawrence Yun Chief Economist with the National association of Realtors:

  • 2015 existing home sales are forecasted to rise 7% to 5.3 million homes
  • Median existing home price will increase 4 to 5% after cumulative increases of about 25% over the last 3 years
  • New home sales are expected to be up 37% in 2015!
  • Distressed sales are disappearing
  • First time Buyers are waking up after being absent for 5 or 6 years.
  • Job growth may push 3 million this year!

Potential speed bumps do exist:

  • Mortgage rates are expected to increase from ridiculously low sub 4% to close to 5% by years end.
  • Lenders have been punished by the Feds and could be slow to ease underwriting standards back to normalized levels,
  • First time Buyers may continue to look for more proof of price appreciation and job security before the enter the market.

Freddie Mac’s November 2015 forecast echoed The Associations:

  • 3% GNP
  • Lower energy costs
  • Less Governmental fiscal drag
  • More business confidence with better paying jobs

Charlotte is finally shaking off it’s “Banking Drag”, job growth is in place, construction has returned……Looks like we are ready to charge ahead!