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Real Estate Blog & Resources

2015 Texas Real Estate Outlook

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Image Source: US News

As 2014 comes to an end and we are on the dawn of 2015, we put together a list of 7 Texas real estate trends for 2015 from the Huffington Post, US News, PWC, News 12 and PR Web.

  1. Cities Live Around the Clock. Urbanization has given life to American cities that have typically been nine-to-five. Downtown transformations have combined housing, retail, dining and walk-to-work offices to generate urban cores spurring cities that live around the clock and raising the quality of life. SouthStar Communities has developments close to large cities and job hubs, yet far enough away to enjoy the quieter suburbs.

  1. New Mortgage Programs Arise. In 2015, more people may qualify for home loans. Freddy Mac and Fannie Mae recently announced a new mortgage program for buyers with a downpayment as low as 3 percent. Check with your home lender to see if you now qualify for a home loan.

  1. Millennials Buy. The Millennial Generation is even larger than the Baby-Boomer Generation. While Millennials have in the past preferred renting over home ownership but that is starting to change. In 2015, millennial buyers will represent the largest group of homebuyers as they start families and seek stability. Millennials make up around 65 percent of first-time home buyers. More than two-thirds of household growth in the next five years is expected to come from Millennials. SouthStar Communities has a variety of developments to start your family in or buy your first home in.

  1. Baby-Boomers Downsize. Baby-Boomers will also continue to have a significant impact on Texas real estate development and investment. Baby-Boomers are likely to move in 2015 in order to downsize and move closer to kids and grandkids. Our communities have plenty of home options for you to move closer to your kids and grandkids.

  1. More Jobs Are Created. Business are realizing that while they were worried about the “jobless recovery”, the labor market continues moving in the opposite direction. Retirement accounts are accelerating. Within the next few years, there will be labor shortages, instead of surpluses. Survey respondents place job growth at the top of the list of most important issues for real estate, closely followed by wage and income growth. Job growth means more purchasing power for home buyers.

  1. Economy Continues to Grow. America is putting the housing bubble collapse behind it. The trend in residential real estate is returning to the classic supply and demand. As the economy continues to strengthen, confidence in the residential sector should continue to rise.

  1. Buyer’s Have the Power. Zillow’s chief economist predicts that home value growth will slow to around 3 percent, making Texas real estate less attractive to investors. This will move negotiating power back to buyers and away from sellers. This also means less competition so that homebuyers can be “more picky” and find the perfect home.

Take advantage of these Texas real estate trends in 2015, and buy or build a home in one SouthStar Communities’ master-planned communities.

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