Early indicator show the Philadelphia housing market is poised for a solid year in 2015.
Three of the leading indicators of a good housing market are showing that 2015 will be a good year to sell or purchase a Philadelphia home.
- The job market is getting stronger with the unemployment rate indicating people are getting back to work. The consumer confidence index show almost a 20% increase over last year in consumer optimism.
- Nationwide home prices are beginning to stabilize with an average increase of +/- 4.5% compared to last year when prices jumped an average of 11% between January and October 2014. This in combination with interest rates staying around 4% for a 30 year fixed mortgage will help create excellent conditions for both sellers and buyers.
- The rental market indicates that annual rents are increasing to a seven year high. High rents and easing restrictions for loans on first-time homebuyers will bring more potential customers into the market.