Recently, the US Economy got a big lift when the last quarter showed a significant rise in our GNP (Gross National Product). This number reflects an overall look at all segments of our economy. While globally many countries are struggling, we continue to show growth. Overall employment is also on the rise, while fuel prices continue to fall. All strong indicators that 2015 will be a good year for the US and the housing market. After seeing more stability in our local housing market this year, we may begin to actually see home prices start to edge upward, as our local housing inventory declines. The one area of some concern for would be homebuyers is that, as the economy continues to get better the Federal Gov’t may ease back on credit restraints, thus forcing interest rates to rise. A stronger economy will most often lead to an increase in consumer confidence, when folks feel better, they tend to spend more on capital goods and housing. With all this positive news, I remain very optimistic as we enter 2015.
