Where should you invest in 2015? ovginvest/property-investment-news/where-should-you-invest-in-2015/ The USA property market performed strongly in 2014. In fact, across the country the median sales price for single family homes increased 9.73% between 1st January and 30th November. (Source: Realcomp II) One reason for this is consumer confidence is higher than its been for years. Which helped the US economy grow at a 5.0% annualised rate in the third quarter of 2014. Thats the fastest in over a decade. But the big question is... What can you expect in 2015? According to Realtors 2015 US Housing Market Outlook more of the same. You see, the report says: * Existing home sales will rise by as much as 8% during 2015 * Prices will climb by 4% to 5% as demand goes up * Millennials (people born between 1980 and 2000) will drive two-thirds of household formations over the next 5 years * Home affordability will fall by 5% to 10% as prices increase * Foreclosures will continue to decline And other experts agree… Chief economist of the National Association of Realtors, Lawrence Yun, expects the national median home price to rise 4% in 2015 and another 4% in 2016. And number crunchers at Zillow predict house prices will rise 2.5% in 2015. But looking at things on a national level doesnt tell you where youll get the best returns. For that you need to look locally. And what better place to start than Detroit. Because it looks like Detroit is set to outperform the rest of the country for the 4th year in a row. You see, the median sales price in Detroit has grown faster than the national average for the past 3 years. Take a look for yourself... ovginvest/property-investment-news/where-should-you-invest-in-2015/#more
Posted on: Wed, 07 Jan 2015 15:51:54 +0000
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