NAA Industry Insider: Five Ways 2014's Housing Market Will Differ

Trulia chief economist Jed Kolko lists five ways that the 2014 housing market will differ from this year's. The number one change will be housing affordability, which is expected to worsen in numerous markets. Not only are prices expected to rise faster than both incomes and rents, mortgage rates likely will climb in 2014 due to an improving economy and to the inevitable Fed tapering. Second, rental action is projected to swing back to urban apartments. Investors purchased single-family homes and rented them out during the recession and recovery. According to Kolko, "urban apartments will be the first stop for many of the young adults who find jobs and move out of their parents' homes."

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