Real Estate

Real estate pro's 2015 forecast: Axis of housing happiness

2015 axis of housing happiness

Next year is going to be a great one for real estate, two pros in the sector told CNBC on Monday.

For broker Fred Glick, it's all about jobs, oil prices and interest rates, which translate into more money in consumers' pockets and more confidence.

"This is all going to turn around to a happiness. I call it the axis of housing happiness in that you have jobs, you have low oil prices and you have low interest rates," Glick told "Closing Bell."

"This is great, I love it here."

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Real estate lawyer Shari Olefson said 2015 will be the first year the whole nation recovered, with everyone getting back into the game, including those who lost their last homes to foreclosure.

First-time buyers will probably exceed their 40 percent historic average in terms of participation, she predicted. Plus, boomers will have a big impact because of their sheer numbers, especially in regions where they plan to spend their retirement.

On top of that, "we're going to have those boomerang buyers who sat out the mandatory waiting period and can get back into housing," Olefson said.

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As for a rate hike by the Federal Reserve negatively impacting the housing market, both Olefson and Glick don't buy it.

"The great thing about housing is people need a place to live," Olefson said. "The alternative is to rent and we know rents are going up even faster than interest rates. And we still have the mortgage interest deduction. So rates are not going to be a big obstacle."