--- title: Buying or Selling a Home in 2015? Here's What You Need to Know description: After a boom, a bust, and a bounce, housing finally gets back to "normal." authors: - name: Carla Fried url: https://money.com/author/carla-fried/ at_money_since: 2014 articles: 32 covers: - Housing - Economy and Politics - Investing - Mortgages - Retirement former_staff: true published: '2014-12-19T12:00:27.000Z' modified: '2024-04-16T04:47:54.000Z' section: Housing tags: - aging in place - buying a home - home prices - home renovations - Housing Market - housing recovery - mortgage rates - selling a home word_count: 401 canonical: https://money.com/home-buyers-sellers-2015/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Ihouse final](https://img.money.com/2014/11/ihouse-final1.jpg) Housing should be a drama-free zone in 2015. “After the boom, the bust, and the recovery bounce, we are transitioning to a calmer market driven by fundamentals,” says Jed Kolko, chief economist at Trulia. Even though the [econ­omy is growing](https://money.com/ways-to-prosper-2015/ "5 Ways to Prosper in 2015") and mortgage rates will remain low—the 30-year fixed isn’t likely to pass 5%—bubbly gains in housing are unlikely. Household income has barely budged since the housing market bottomed in late 2011, while home prices are already about 20% higher on average. Plus, with cautious lenders requiring hefty down payments and low debt/income ratios, it’s not as if buyers have the capacity to push prices sharply up. All that figured in, CoreLogic forecasts a 4.4% rise in the national median home price. “That’s healthy and sustainable,” says chief economist Mark Fleming. Here's what to do if you're thinking about buying or selling in 2015. **Sellers, forget bidding wars.** In most markets you still have leverage, but less than you did. In the summer of 2013 about 20% of homes were selling at a premium to original list; this fall, 11% are, the National Association of Realtors reported. The takeaway: “You have to price your house right,” says Redfin chief economist Nela Richardson. ­Review [recent comps](https://money.com/collection-post/how-to-set-a-home-asking-price/) and list within 5% to allow for counteroffers. **Buyers, save interest.** While the [30-year fixed](https://money.com/collection-post/what-mortgage-is-right-for-me/) is not expected to hit 5% until later in the year, a winter move will likely nab the lowest rates. Meanwhile, the [15-year mortgage](https://money.com/collection-post/how-to-get-the-best-mortgage-rate/), now at 3.3%, should stay under 4% for most of 2015—and can be a good call if you’re looking to pay off the house before retirement. **Owners, renovate.** Especially if you have a low-rate mortgage, “it can be a lot cheaper to remodel to [age in place](https://money.com/age-in-place-renovation-projects-easy/ "6 Simple Projects To Make Your Home More Retirement-Friendly") than move,” says Kermit Baker, director of the Remodeling Futures Program at Harvard’s Joint Center for Housing Studies. Rates on home-equity loans and lines of credit are still “in shouting distance of record lows,” says Keith Gum­binger of mortgage data service HSH.com. While loans are pricier than HELOCs—possibly 6.5% vs. 5.5% by year’s end—the fixed-rate HEL can be a safer bet in a rising rate climate. **Read More on Home Buying and Selling in [Money 101](https://money.com/collection/money-101/ "Money 101"):** [How Much House Can I Afford? ](https://money.com/how-much-should-i-spend-on-a-house/ "How much house can I afford?")[What Renovations Will Pay Off When I Sell? ](https://money.com/what-renovations-will-pay-off-when-i-sell-my-home/ "What renovations will pay off when I sell?")[How Do I Get the Best Rate on a Mortgage?](https://money.com/collection-post/how-to-get-the-best-mortgage-rate/ "How do I get the best rate on a mortgage?") *Read next: [The World’s 10 Most Expensive Houses—and Who Owns Them](https://money.com/worlds-most-expensive-houses/?xid=time_readnext)* ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/home-buyers-sellers-2015/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Housing", "item": "https://money.com/housing/" }, { "@type": "ListItem", "position": 3, "name": "Home Buying", "item": "https://money.com/home-buying/" }, { "@type": "ListItem", "position": 4, "name": "Buying or Selling a Home in 2015? 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