2014 real estate prediction from top industry leaders

2014Predictions

We’ve compiled a summary of our top picks for the 2014 real estate industry forecast. Here’s what some of the top industry leaders have to say:

Pat Riley, President and Chief Operating Officer, Allen Tate Companies

“In the Carolinas, the housing recovery that began in October 2010 will continue on a steady path in 2014. Low new and resale inventory will continue to cause above-average price appreciation. Interest rates will slowly continue to climb, creating urgency for buyers to make their move. Coincidentally, what you want to buy may be appreciating more than what you are selling. Job growth and in-migration will continue to propel a growth economy, with housing leading the way,”

Source: Allen Tate Realtors®

 

Lawrence Yun  – NAR Chief Economist

“Aside from affordability, ongoing headwinds include limited inventory conditions and stringent mortgage standards, both of which are expected to continue as housing starts struggle and business costs remain elevated for lenders.

Yun also predicts that the top 10 markets to watch for a housing turn around in 2014 are Salt Lake City, Utah; Naples and Tampa, Florida; Atlanta, Georgia; Boise, Idaho; Houston, Texas; Charlotte, North Carolina; Denver, Colorado; Seattle, Washington; and Tucson, Arizona.”

Source: dsnews.com 

 

Steve Murray – Real Trends

  • Technology will drive investment decisions
  • Lower inventories
  • Aging of sales agent force
  • Brokers faced with constant pressure to update technology platforms and options
  • The cost of recruiting experienced agents have priced this option out of the market for many realty firms

Source: Real Estate Business Resources, Inc. 

 

Bruce Norris – The Enterprise Press

“More equity sellers are heading into the mix. Delinquency and foreclosure rates are improved. The pool of international buyers is growing. On the other side of the equation, Norris said he is mindful that: First-time buyers are being squeezed out of the market.  New home construction could be a game-changer.

“The percentage of first-time buyer sales in 1995 and 1996 was 50 percent,” Norris said. “Now, it’s at 28 percent. They are getting beat out by cash buyers, or they can’t qualify. That’s the missing link to me.”

Source: blog.pe.com

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