Elegant Casas - Full-Service Real Estate Brokerage

Independently owned & operated. We treat clients like family.

  • Buy
    • Buyer Guide
    • Listings
    • Search
    • Request Viewing
    • Helpful Links
  • Sell
    • Seller Guide
    • Luxury Package
    • SRS Certified
    • Staging
    • Free-Eppraisal
    • Home Not Selling?
  • Mortgage
    • The Steps
    • Mortgage Calculator
    • Apply for Loan
    • Loan Products
    • Required Docs
    • Secure Document Upload
    • Credit Report
  • About
    • Company
    • People
      • Michael A. Melnyk
      • Cindy Kelly
      • Norlan Blanco
      • Gabriela Ivanov
    • Careers
    • Hero Rebate
    • Contact
  • Blog

Call or Text Us Now
727-777-6477

  • Facebook
  • Twitter
You are here: Home / Real Estate / Predictions for 2015

Predictions for 2015

January 31, 2015 by Michael A. Melnyk

Hello Tampa Bay:

I wanted to share with you my predictions for 2015.

SLOWER GAINS IN PRICE
I predict home prices will rise 3% in 2015.  With improving inventory and the exit of institutional investors, we’ve entered into a “normal” phase of steady growth, rather than the rapid recovery phase of 2012-2014.

BUYING HYSTERIA TO FADE
The homebuying process will be less hectic in 2015.  I’ve already seen the home buying process become easier for regular people.  Sellers will face more competitive pressure, and buyers will face less…as inventory continues to rise, investors exit, and buyers face increased access to credit.  As such, a more balanced market will continue to develop.

MORTGAGE RATES WILL RISE
I predict interest rate on 30-year mortgage will rise to 4.5%.  We are currently near historic lows of 3.7%.

FORECLOSURES WILL DECLINE
Foreclosures will continue to decline as many people have gained equity in their home due to the price gains over the past few years.

GLOBAL BUYERS
Foreign buyers will continue to play a huge role in Tampa Bay housing market.  In 2014, Florida had the highest percentage of foreign buyers in the country, and Tampa Bay had the highest percentage among Florida metropolitan areas (even higher than Miami!).

Best regards,

Michael A. Melnyk

Join

Filed Under: Real Estate Tagged With: Real Estate News

  • Facebook
  • Twitter
  • YouTube
  • Better Business Bureau

© 2022 Elegant Casas, Corp.
5811 Memorial Hwy #201
Tampa, FL 33615
+1 813 579 5151
Legal Disclosures
Login