Real Trends
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2015 is likely to bring an increase in home sales over 2014 along with higher average prices. This positive outlook on the coming year in real estate is due to several factors:
- Households are adding jobs; job creation is on the rise along with higher wages.
- The country as a whole has received a tax cut of an estimated 75 to 80 billion dollars due to the decrease in oil prices. The extra money will be able to be put towards down payments on homes and will aid in building the confidence of consumers.
- Mortgage underwriting standards have become less strict and lower down payment requirements means more consumers will be able to afford homes.