2014 Real Estate - A Good Year?

Home sales were at the fastest pace since 2007 in the past year, according to the National Association of Realtors.  But 2014 may hit some bumps in the road.

Possible concerns:

- Rising mortgage rates

- Lackluster job market with Illinois in the top 5 of unemployed

- Typical 1st time buyers (25-34 years old) have a 74.9% employment rate

- Median sales prices have grown approximately 4% per year, but wages have not.