This year is drawing to a close. Inventory of pre-owned homes has remained low which has escalated prices for homes. However, we have seen a slight slowdown on the price increase lately. Interest rates remain good for home buyers. What can we expect in 2015? I don't have a crystal ball but if I were to make an educated guess, I believe we will see interest rates climbing slowly throughout this next year. Home prices will continue to remain on the high side because of the lack of inventory. This could change if we see less demand in buying or more people looking to sell. If our economy in the U.S. continues to improve this will help all states. However, Texas is already way ahead of most in the economic performance area. The only thing that could hurt our economy is if we see a world-wide slowdown and that is possible since much of Europe is already in a recession. Why will this effect us. Texas sells a lot of products to the world so it will have an impact here if it becomes severe. I don't see that happening this next year but anything is possible. Stay tuned for updates to this blog on the market. Posted by Roxanne DeBerry on
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