CINCINNATI, March 31, 2015 /PRNewswire/ -- As we enter the
peak real-estate season, RE/MAX of Southern Ohio names the top housing trends to
watch in 2015. The trends are forecasted by the top brokers of
RE/MAX of Southern Ohio and are
based on current market conditions. With more than 400 sales
associates and 40 offices, RE/MAX of Southern Ohio is a real-estate leader,
servicing all of southern Ohio and
northern Kentucky.
- Housing inventory will remain tight.
RE/MAX of
Southern Ohio anticipates there
will not be enough homes on the market to meet buyer
demands. While many homeowners have recouped some equity in
their homes, they still may not be ready to sell in
2015.
- Prices will continue to increase, but likely at a slower
rate.
RE/MAX of Southern Ohio expects home prices to continue
their upward rise in 2015, but at a slightly slower pace as
the market begins to stabilize and return to normal.
- Higher rents will push many into housing market.
As
rent prices continue to rise throughout southern Ohio and northern Kentucky, many renters
will find fixed monthly payments very attractive. As the
housing market continues to stabilize and confidence builds,
expect many renters to make the jump to home ownership in
2015.
- Millennials will become largest first-time group of
homebuyers.
By the end of 2015, millennials are
expected to represent the largest group of first-time
homebuyers. This group tends to favor smaller homes in more
urban areas -- these areas in southern Ohio will likely benefit from millennial
purchasing activity in 2015.
- Looser lending restrictions make home ownership more
accessible.
2015 brings a loosening in credit
requirements. Buyers with good credit and steady
employment may be able
to secure a loan even if they don't have enough for
the traditional 10 or 20 percent down
payment. Additionally, more buyers may be eligible
for home loans this year as previous foreclosures and short
sales come off their credit reports.
"Overall, 2014 was a strong year for southern Ohio's and northern Kentucky's housing markets," said Jeanette Schneider, senior vice president,
RE/MAX of Southern Ohio. "None of us have a crystal ball,
however, based on current market trends and conditions, we remain
very optimistic about 2015 and expect this trend to continue."
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/remax-of-southern-ohio-names-top-real-estate-trends-for-2015-300058202.html
SOURCE RE/MAX of Southern
Ohio