In “Economy Heats Up,” the 2014 forecast from NAR published in REALTOR® magazine, the association sees solid growth in the national housing economy.
Three notable predictions for the next two years:
- A half-percent increase in sales in 2014 (over 2013), but a 5.0 percent increase in 2015 — to 5.4 million homes nationwide.
- A 21 percent increase in new-home sales in 2014, and more than a 30 percent increase in 2015.
- An average 30-year mortgage rate of 5.1 percent in 2014, and 5.8 percent in 2015