5 economists forecast the 2015 housing market
An exclusive roundup from RealtyTrac's 'Housing News Report'
Lawrence Yun, chief economist and senior vice president of research at the National Association of Realtors: More buyers returning to market from improved job market conditions and a steady flow of buyers who went into the “penalty box” after a distressed property sale.
Jonathan Smoke, chief economist at realtor.com: The new 3 percent down payment products coming from Fannie Mae and Freddie Mac should have a positive impact on the market as they enable more first-time buyers who have good credit but limited assets.
Christopher Thornberg, principal at Beacon Economics: We expect sales and price appreciation to pick up steam this year. Existing-home sales should rise over 5 million and prices will accelerate some — probably close to double digits by the end of next year.
Mark Zandi, chief economist at Moody’s Analytics: New- and existing-home sales are expected to increase by as much as 20 percent in 2015. Key to this optimism is continued gains in the job market. The market should be tight enough that households will finally enjoy real wage gains.
Jed Kolko, chief economist at Trulia: The strongest source of housing demand will be young people getting jobs and forming households.
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