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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