Reasons 2015 Will Rock for Real Estate

After a slowdown in the market this year, housing analysts and economists have high hopes for 2015. The real estate market is expected to build momentum across the board nest year, mostly because of a strengthening economy.

Here’s a recap of some of the real estate forecasts for 2015:

  1. Millennial force: Younger professionals are having more luck in the job market, which is expected to help more of them jump into home ownership in the new year. Overall, employment is on the rise, but jobs for Millennials — particularly those aged 25 to 29 — has risen by 3 percent. That’s one percentage point above the nationwide rate.
  2. Home prices stabilize: The double-digit price increases seen in 2013 have slowed, and more stable growth was the trend in 2014.
  3. Return of the 3 percent down payment: New programs are popping up to help more buyers break into home ownership with lower down payments.
  4. Drop in oil prices will boost housing: Oil prices have plunged 45 percent since June, which could inadvertently provide a lift to the housing market.