Looking Back at 2014
Looking back at 2014 national real estate trends, many of them applied to Reno, Nevada and Modesto, California. In my opinion, the overall US economy (Reno, with the Tesla plant and other factors is really taking off) and low mortgage rates are main drivers of the recovery.
Here are the top trends per Realtor.Com
- Improving economic fundamentals – Reno is really taking off!
- Historically low interest rates http://karenconrad.com/3-down-reno/
- Return to normal price appreciation
- Foreclosures and short sales declined throughout the year in Reno and Modesto
- Large-scale investor purchase decline, leaving more room for traditional first-time buyers.
(For the full story and additional real estate trends go to http://www.realtor.com/news/real-estate-trends-defined-2014/ ) Karen Conrad, Broker, First Realty