Strong Year Predicted for Fresno Real Estate
At the Valley’s 12th Annual Real Estate Forecast event, multiple industry experts all said the same thing:
2015 is going to be a strong year in for Fresno’s housing market.
There were many reasons across that lead to these predictions. A historic low in interest rates for potential buyers, plus expansive growth in the so called “urban centers” has opened up more opportunities for home buyers. There was also talk of the high-speed rail construction, which could lead to a large opportunity for economic growth in the valley, and spark even more demand for housing.
One expert predicted that the rate of new home construction will average 1,800 single-family homes per year for the next decade. Currently, even with the construction of new homes, there is more demand than supply, which has resulted in some of the highest median home prices the area has seen in years, and it is expected that this trend will continue.