Zillow Predicts 2014 US Housing Market Trends : Boca Raton Homes For Sale, Boca Raton Homes For Rent

What is Zillow Saying?

Predictions for next year's housing market is beginning with the close of calendar 2013.  Svenja Gudell, Director of Economic Research at Zillow, has made some predictions for the US housing market in 2014.
Zillow expects the housing market to continue to recover, but at a slower pace.

Zillow predicts home values will increase by 3% in the US during 2014.  Zillow expects the following factors to dampen the growth: 1) higher mortgage rates; 2) higher prices; 3) more supply-- from a) fewer underwater homeowners and b) new construction.

Mortgage rates are predicted to be higher, according to Zillow, due to a reduction in Federal Reserve bond purchasing.  Zillow expects rates to exceed 5% in 2014; Mortgage Banker's Association reported the average 30-year fixed rate was 4.51% at the week ended November 29, 2013.

Somewhat offsetting the rising rates will be increased mortgage availability, according to Zillow.  With a reduction in refinancing activity, Zillow believes lenders will supplement the lost business by competing for new buyers.  Zillow's theory is this will spur looser lending standards.

Zillow also predicts as decrease in homeownership rates.  The predicted weak labor market and continued foreclosures are predicted to displace homeowners, according to Zillow.  As such, the company expects a continued high demand for rentals.


What do you think? Leave your comments here.


I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

South Florida Recent Housing Cycle Review & Zillow.com South Florida Home Price Prediction For 2013 : Homes For Sale : Homes For Rent

In order to predict where South Florida Home Prices will go in 2013, it makes sense to review the current South Florida housing market cycle.

According to an article in the Sun-Sentinel, single family home prices peaked at $421,000 in November 2005. 

During 2006 home prices began to decrease and it was taking longer to sell.  Prices continued to decline in an attempt to entice buyers.  When it became apparent  that prices were continuing to decline, even more homes came out onto the market in an effort to get out before prices declined further.

The "housing crisis" was beginning to take form in 2007.  The year saw the economy slow down and jobless claims began to steadily increase.  House prices in South Florida began to decline in earnest.

According to a study by Zillow.com for the Sun-Sentinel, "strong" home sales over the past 18 months have reduced the glut of inventory in the Palm Beach County market.  The County saw its housing inventory decrease 43% in October 2012 over October 2011.  In turn, home prices have increased in Palm Beach County in South Florida, according to the study.

According to the article, homes have historically increased 2.0% to 4.0% annually. 

Zillow.com predicts home values in the South Florida market will rise by 2.1% over the next year.

For those buyers who  were waiting on the sidelines so as to not "catch a falling knife"-- the opportunity to buy may be here. 

For sellers who were waiting to see market prices increase, it might be a good time to contact me to get your home ready to be listed.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.


For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty