The Vero Beach housing forecast for the second half of 2015 fails to show any positive data, with trends predicted to go downhill.
According to the latest market report from analytics firm Clear Capital, nationally, the data is more of the same. Data through June looks similar to data through May 2015, with no change in quarterly growth at 0.6% and a slight drop of 0.1% in yearly growth, from 5.3% to 5.2%.
Vero Beach Housing Nearing Summer's End
What’s worse is that the best of the year is already past since the spring and summer seasons typically reflect the peak of the Vero Beach housing demand cycle. And 0.6% quarterly growth nationwide is a foreboding sign of how the remainder of 2015 may play out, according to the report from Clear Capital.
In January 2015, Clear Capital forecasted total 2015 national growth would come in at 1.3%, more than five percentage points from where we ended 2014 at 6.7% national growth.
Here we are six months later, and there is very little evidence for Clear Capital to change their view that the year will end up with price growth coming in just around the rate of inflation. Their adjusted forecast calls for year-end national growth of 2.6%, falling within their initial projected range of between 1% to 3%.
Meanwhile, May home prices nationwide, including distressed sales, increased by 6.3% in May 2015 compared with May 2014, according to the home price report from CoreLogic.
This change represents 39 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 1.7% in May 2015 compared with April 2015.
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