Housing Market Expected To Rebound in 2015
First time homebuyers are expected to return to the market in January according to Realtor.com.
“Home prices are expected to increase by 3-4%,” reports Nick Sommer, VP of CENTURY 21 Alliance Group in Valparaiso, IN. The Inventory is still low and even though it’s winter, it’s the perfect time to list your home. The average sales price of single-family homes rose in both Lake and Porter Counties. In Lake County, the price rose from $138,325 in 2013 to $146,403 in 2014. In Porter County, the price in 2013 was $187,265 but rose in 2014 to $195,305.
“We’re slightly down everywhere except Crown Point. Crown Point has more transactions closed than Valparaiso. Merrillville slowed down because inventory is the issue. Inventory is way down,” said Nick.