with Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Home prices are on the rise, at what Terry calls “a boring pace”. See why boring is good for the housing market. The S&P / Case Schiller 20 City Index shows home prices are up 5.6% since August 2013, that’s a solid above-inflation rise but is slow enough to get housing inventory on the market. As Steve puts it, a steady rise in home prices and a healthy housing market is good because it keeps out speculators and avoids market dislocations.
Terry shares GDP growth predictions for 2015 and what they mean for home sales next year with variables such as jobs, unemployment (which, at 5.8%, is the lowest in 6 years) and speculative buyers.
While the housing market has not yet fully recovered, trends show steady improvement. Even so, of America’s 5.43 million owner-occupied foreclosed homes, only 2% of previously foreclosed owners have bought again – see what that means for the recovery in housing.