Five U.S. Real Estate Trends to Watch in 2014

 

 

The Puzzle Of Real Estate

As we start into 2014, there are at least five major national real estate trends that are definitely worth watching, especially with respect to the potential market for both buyers and sellers.

The first of these broad trends is that more sellers may be placing their homes back on the market. Recently, the ongoing rise in home prices has led more homeowners to consider placing their homes back on the market. An additional factor also hinges on the expectation that new home construction is expected to increase further this year, further boosting options for home shoppers. For more on the past trends of rising home prices, please refer to our blog post earlier this month, to see some local statistics reflecting some of these recent trends right here in the Great Smoky Mountains real estate market.

The second of these trends heading into 2014 is that new home sales are expected to rise into this year. Forecasters expect the number of housing starts to range from 1.19 million to 1.25 million, up from 975,500 in 2013. In addition, builders are also compensation for years of sub-par construction levels, according to Robert Denk, an economist with the National Association of Home Builders. Furthermore, an anticipated increase in homebuilding means that new home sales should also increase, as well. While it is too early to say if this trend will play out fully, the potential for new home sales to increase is certainly a possibility heading into 2014.

The third of these trends on a national level also focus on the real possibility of mortgage interest rates rising in 2014. While fixed mortgages likely will rise this year, averaging somewhere in the 4.9 percent to 5.3 percent range, forecasters say. That’s still low historically, but well above rates for the past 2 1/2 years. The potential for the Federal Reserve to begin its “tapering” of its stimulus bond buyback program sometime this year plays a significant role in why rates could rise, albeit not as dramatically as once feared. Mortgage rates will still remain at historically low levels, despite any potential increases. For more on the potential for the Fed regarding potential tapering, please click here for a broader explanation and what it could mean for the real estate market, particularly with regards to mortgage interest rates for 2014 and beyond.

Additional trends include the possibility of credit actually easing somewhat heading into 2014, where lenders could be in a greater to extend more loans to potential homebuyers as a whole. While it is too early to state that credit as a whole will be easier to get in this new year, trends point to a potential easing of this over time, particularly with respect to new mortgages and loans. For more information regarding this emerging trend, please check out this link with regards to the potential easing of credit heading into 2014. However, one final national trend to also watch is that the commercial real estate market remains slow into 2014, where commercial real estate recovery “tends to lag broader economic growth,” according to Deloitte & Touche’s 2014 outlook.

In short, these five trends in national real estate will certainly shape the landscape of real estate here in the Smoky Mountains, as well. Why not see what the Great Smoky Mountain real estate market can offer you today? Please feel free to browse our available Featured Properties today, and see how The Jason White Team can help you realize your home ownership dreams!

 

Here Are A Few of My Featured Listings:

 

854 Piney Butt Loop Main PhotoPrivate Chalet w/Panoramic Mtn. Views! Private, 3 BD/3 BA chalet located in Chalet Village, with amazing, panoramic mountain views! Perfectly suited as a permanent residence, 2nd home, or overnight rental. Type: Single Family Home Location: Gatlinburg, Tennessee Price: $229,900 Get more information >

 

1709 Smoky Hills Drive Main PhotoBrand New Log Cabin Near Gatlinburg w/Spectacular Mtn. Views! Brand new log cabin w/2 BD/2 BA, located just 2 mi. from the Downtown Gatlinburg Strip, & is w/in walking distance to the Gatlinburg Community Center. Spectacular mountain views! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $249,900 Get more information >

 

2049 Luzerne Drive Main PhotoRestored, Vintage-Style Chalet w/Bird’s Eye View of the Great Smoky Mountains! Restored, vintage-style chalet with virtual bird’s eye views of the Great Smoky Mountains, tramway and city lights while just 5 mins. from downtown Gatlinburg.  Type: Single Family Home Location: Gatlinburg, Tennessee Price: $169,900 Get more information >

 

The Jason White Team
Century 21 Four Seasons Realty
1441 Wiley Oakley Dr
Gatlinburg, TN 37738
Toll Free: 877-678-2121
Fax: 865-436-7227
Email: jason@jasonwhiteteam.com
Website: gatlinburgrealestateforsale.com