Morning Minute: Could 2014 be the year of repeat home buyers?

If 2013 was the year of investment buyers, then expect repeat home buyers and urban renters to be the dominant forces in the housing market in 2014, says Trulia chief economist Jed Kolko in his latest outlook.

Why will repeat buyers take center stage? “They’re less discouraged by rising prices than either investors or first-time buyers because the home they already own has also risen in value. Also, the down payment is less of a challenge for repeat buyers if they have equity in their current home,” Kolko says in blog post. Read coverage of Trulia’s forecast from HousingWire.com.

In other headlines:

Harvard: 5 Financial Reasons to Buy a Home Now -Oswego Patch

Realtors® Applaud Confirmation of Watt as FHFA Director – REALTOR.org

U.S. MBA Mortgage Applications Index Increased 1% Last Week – Bloomberg

 

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.