Experts are predicting the following trends in the housing market for 2014:
1. Increase in Housing Inventory
The Urban Land Institute thinks this will be the last year that low inventory will aid housing prices. Forbes believes that the rapid price increases of 2013 were greatly due to this shortage and expects prices to adjust to a healthy and stable pricing as the inventory matches the need more closely. At Highrises.com our agents reported 2013 the year of lines to see new listings and homes closing before they were even listed.
2. Increase in Interest Rates
ULI expects ten-year treasuries to rise slightly in 2014 as they have been below 5% for quite some time. The average mortgage rate for the last 36 years has been 9.2%. With…