Four housing market trends are expected to dominate the market in 2015.
Evans, GA -- (SBWIRE) -- 01/29/2015 -- In their blog last week, Prudential Beazley Real Estate shared with readers that, "in the past five years, high down payment demands and strict lending standards have made it difficult for first time home buyers to find a home." However, there is good news for entry-level buyers, and that is in 2015 all of this should change. Millennials who once had issues securing a place of their own will now find the road much easier.
The four housing market trends to dominate the market in 2015, according to CNN Money, are: looser lending standards, more inventory, houses that will be more affordable, and mortgage rates that eventually rise.
"The improved job market has things looking brighter for young homebuyers already. But add this to the new lending guidelines and securing a home mortgage is practically in the bag," said Prudential Beazley Real Estate.
The sale of new homes is anticipated to rise 13% in 2015 while resale homes are expected to rise 5%. This means that there will be much more inventory available to homebuyers, which will in turn create a drop in home prices. In addition, home builders have begun to increase their production of smaller homes to meet the demand of millennials across the nation. For the first time in several years it will be easy for first time homebuyers to secure a home for $150,000 or less. Prudential Beazley Real Estate shares with their readers a few of their new home neighborhoods where homes at this price are already available.
Cornerstone, features new single story, two story and townhomes for sale in Aiken, SC in addition to highly rated schools, parks, and convenient shopping. Gregg's Mill in Graniteville as well as Grovetown's Willow Oak have opened resort style swimming pools which their residents can enjoy exclusively. Creek Bend, in Grovetown, features beautiful walking trails, and Southampton in Hephzibah features homes for as low as $130,000. Each of these neighborhoods offers great starter homes at affordable prices.
While mortgage rates are expected to rise this year, they are expected to peak around 4.75%, which, historically speaking, is still very low.
To read the full article, please visit: http://www.prubeazleyrealestate.com/blog/first-time-home-buyers-2015/
About Prudential Beazley Real Estate
Established in 1986, Prudential Beazley Real Estate continues to set the pace in the Augusta, Georgia and Aiken, South Carolina area for high customer satisfaction. Their agents work around the clock to bring buyers and sellers together and assist with relocation.
For more information on selling homes in the Augusta Metro area contact a Prudential Beazley Real estate agent at 706-863-1775.
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