CA Housing Market Forecast 2015 – Market Expected To Keep Moving Along “Normal” Continuum
San Diego, CA (PRWEB) November 23, 2014 -- Blue Home Loans Inc. is a full-service California mortgage company that has been helping borrowers to find the best loan rates and programs for many years. Lead by father and son team Robert and Brandon Blue, the mortgage professionals at Blue Home Loans are dedicated to serving the homeowners and buyers of California with honesty, integrity and competence. Recently the California Association of Realtors ® (CAR) released its predictions for the housing market in the coming year. Blue Home Loans, Inc. takes a look at this CA housing market forecast for 2015 and offers some advice for those with home loan plans in the future.
The CAR housing market outlook for 2015, which was released this October 2014, says, “If you have been following the housing market news in 2014, it is possible that you are not quite sure what is going on. The status of the housing market recovery seems indeed uncertain. What happened?”
The article goes on to explain that home sales were slowed from 2013, with total sales of existing single-family homes in 2014 projected to end the year about 8 percent lower than the year before. The lower sales this year reflect some changing dynamics in the California housing market. The forecast explains that this year the market moved away from being predominantly investor driven since home price growth and depleted inventory reduced profit margins for investors.
Blue Home Loans explains that subsequent slowing of home prices this year, compared to 2013, is primarily a result of investors exiting the market and sellers readjusting their expectations. The article explains, “After more than 20 months of double-digit year-over-year increases in home prices, we are now looking at normalized single-digit price growth. Homes are even being sold below listing price in some markets. Also, severely depleted inventory of homes available for sale finally improved. While still an issue in areas with high buyer demand, inventory has improved in all price segments and across most parts of the state. Furthermore, mortgage interest rates have remained steady and certainly below forecasts that were anticipated for this time of 2014. Taken together, housing fundamentals are good and buyers and sellers are adjusting their expectations.”
What does this mean for the California housing market in 2015? The California Association of Realtor’s forecast says, “In 2015, housing market is expected to continue moving along a “normal” continuum. While it is difficult to define what “normal” means after a decade of volatility, improvements in housing fundamentals along with improvements in the economy and the job market indicate that a better balance will be achieved between traditional buyers and traditional sellers. Improvements in inventory of homes available for sale will help fuel demand for homes among buyers. Also, diminished competition from investors and cash buyers, and slower price appreciation, will restore some confidence back among buyers. Sellers on the other hand recognize that the market frenzy seen in 2013 no longer exists and home price growth has stabilized.”
Blue Home Loans comments that the changes brought to the market this year will likely make for some very good opportunities for traditional consumers seeking to buy or refinance a home now and in the year ahead. With lower mortgage rates, better pricing and reduced competition, the California real estate market looks like it is now opening its doors to many who have been locked out of homeownership so far, or who have been struggling with unnecessarily burdensome mortgage payment plans.
The team at Blue Home Loans, Inc. can help those who are planning to buy their own homes or refinance their current homes to find just the right mortgage program for their needs, get them the lowest wholesale California mortgage rates available, and even help them find the perfect real estate agent so that they can find a home that is just right for them. As the Blue Home Loans website states,
“We make finding a loan simple because we have virtually every loan program available, regardless of the type of mortgage you are looking for. Whether you are dealing with bad credit, foreclosure, bankruptcy, or low credit scores, we can help you. It only takes us five minutes to find the right program that fits your needs.”
For more information on how Blue Home Loans can help California home loan borrowers get approved for their home purchase loan or refinance quickly, please visit BlueHomeLoans.com or call 1-888-929-BLUE (2583) to speak with an experienced mortgage professional.
California Bureau of Real Estate -- BRE #01938557 NMLS #1162386
Brandon Blue, Blue Home Loans, Inc., http://bluehomeloans.com/, +1 (949) 291-8468, [email protected]
Share this article