Here are five predictions for the housing market in 2015.

1. Millennials Will Become First-Time Home Buyers
Millennials will be looking to invest in their futures. Millennials between ages 25 and 34 make up 65% of first time home buyers, while 86% of them state that their motivation is a change in family circumstances, such as marriage and kids. Due to their student loan debt and limited credit history, Millennials will be searching for homes in more affordable markets such as the South and Midwest.

2. Home Building Will Be On The Rise
In 2014, housing starts will finish slightly above a million with a disproportional amount of the activity being the construction of multi-family units. Housing starts will increase by 16% in 2015, while single family units will have a growth of 21%.

3. Mortgage Rates Will Increase
In 2015, the steadily improving economy will lead to an increase in the federal funds rate. The 30-year fixed rate mortgage will hit 5% by the end of 2015, while the one-year adjustable rate will see little, if any, increase.

4. Credit Scores Will Still Be a Huge Factor
Strict underwriting rules for the past four years has made it difficult for many consumers, especially younger ones, to get mortgages. The new federal policy initiatives in 2015 may help the situation. An improvement in credit access would result in an estimated 500,000 to 750,000 increase in potential home buyers. Here are some tips from BOX Home Loans, on how you can increase your credit scores

5. The End of the Foreclosure Crisis
In 2015, the nations seven year battle with foreclosures will finally come to a halt. Already, in 2014, there was a substantial reduction in their numbers. Although foreclosures will see a reduction at a national level, they will still remain an issue at the local level.