Kelly Hager Group Real Estate Services Predicts Strong Local Market in 2014
St. Louis Real Estate Experts Forecast Low Interest Rates, More Buyers
ST. LOUIS, MO, December 26, 2013 /24-7PressRelease/ -- As 2013 comes to a close, Kelly Hager Group Real Estate Services is predicting that 2014 will be a banner year for real estate in the St. Louis market with low, steady interest rates, fewer foreclosures and an increased amount of homebuyers in the area. The group is encouraging potential real estate shoppers to buy or sell their property early in the year to take advantage of the lowest, most steady interest rates available.
"After the recovery of the real estate market starting in late 2011, the national and local markets have continued to grow at a steady pace," said Kelly Hager, CEO and founder of Kelly Hager Group Real Estate Services. "Next year, we're expecting another 50 percent decrease in the foreclosure rate, which has already begun. All signs point to the fact that the momentum from 2012 and 2013 will continue into the New Year."
As a result of the steadily decreasing foreclosure rate, fewer wholesale properties will be sold, causing the amount of residential real estate sales to increase. With this growing trend in mind, Hager is encouraging those who have been reluctant to sell their home in the past to reconsider their hesitations. Selling a home in a market with a high rate of residential sales will mean more potential buyers and fewer average days on the market.
In 2014, the percentage of consumers who intend to buy a home in the next six months will be the highest in more than five years. Adding to the increase in real estate consumers is pent-up demand among young people. This segment has been hampered by the lack of jobs or insufficient income and in most cases living with their parents or sharing apartments with roommates. The economy is expected to expand and when it does, that group is expected to enter into homeownership.
"Smart real estate shoppers will have plenty of opportunities for success in 2014," continued Hager. "Once the year begins, those who buy quickly will have greater control of interest rates, which should remain fairly steady through the first quarter before potentially increasing. As a growing real estate group, we are very optimistic about what the New Year has in store."
About Kelly Hager Group Real Estate Services
Kelly Hager Group Real Estate Services serves St. Louis and St. Charles County communities. Lead by a fourth generation in St. Louis real estate and more than 40 agents specializing in buying and selling homes through a team-oriented approach, each home buyer and home seller is treated with exceptional customer service and professionalism. In 2013, Kelly Hager Group Real Estate Services has sold almost $50 million in St. Louis and St. Charles real estate to date. Kelly Hager Group Real Estate Services is one of The Top Selling Real Estate Experts . For more information call 314-580-7000 or visit http://www.kellyhager.com.
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