We are leaving the year 2015 with one of the best years for housing since 2007. The good news is a bigger and brighter 2016 is in the forecast. Fueled by steady job growth in many parts of the country, the pent-up demand for buying finally broke out in 2015. This trend is expected to continue throughout 2016.
Here is the breakdown for what to expect for the upcoming year:
In short, 2016 will be another year of stronger housing demand and sales. This will be fueled by continued job growth, job creation and increasing consumer confidence. More people are in a position to buy a home which is creating more demand. As long as supply can keep up, the housing market will continue to shine into 2017.
Sources:
http://www.thefiscaltimes.com/2015/12/15/10-Housing-Trends-Coming-Your-Way-2016
http://realtormag.realtor.org/daily-news/2015/12/22/5-real-estate-trends-will-dominate-2016
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