The 2016 Forecast Breakdown

By
Real Estate Agent with The Kelly Group Real Estate

Increased Sales of New Construction

Predictions for the New Year’s real estate market include forecasts of a healthy market with steady growth similar to 2015. While some market areas have still not recovered their home value prior to the recession, the 2016 market is expected to raise home values in most areas and hail the return of a more normal housing market.

 

One of the areas often found lagging behind the recession and housing bubble recovery continues to be rural areas that have smaller buyer pools. As 2016 is expected to see retirees, millennials, and younger generation x’ers (ages 35-44) comprising the majority of the buyers’ pool, home sales will largely reflect the needs of these age groups respectively.

 

With these buyer groups forecasted to lead home purchases in 2016, the primary markets expected to lead home sales are residential, inner city suburban homes and new construction, with new construction sales expected to be at its highest level since 2006.

 

As the cost of rent is also expected to rise through 2016, more first-time buyers may be forced to enter the market, though will be competing for properties listed at $299,999 or lower.

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Local, National, Global.

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Kelly Hagglund, Principal Broker, Licensed in Oregon.

www.TheKellyGroup.com

Comments (7)

Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Kelly,..always enjoy viewing information on our industry..Thanks for sharing.

Dec 28, 2015 04:02 AM
Rhonda Howlett
Clocktower Realty Group - Richmond, VA
Your History... In the Making...

Kelly,

 

Thank you for the market trend update! 

Dec 28, 2015 04:34 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much for sharing your market update. 

Have a very special week.

Happy New Year!

Dec 28, 2015 05:16 AM
Kelly Hagglund

Thank you Roy Kelley! Happy New Year to you too!

Dec 28, 2015 07:08 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Kelly Hagglund  Thanks for the very valuable forecast data for 2016.

Dec 28, 2015 09:34 AM
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good morning Kelly. Thank you for the forecast for 2016. Many expect the market in this area to stay rather robust.

Dec 28, 2015 05:37 PM
Kelly Hagglund
The Kelly Group Real Estate - Newberg, OR
SW Portland Real Estate Expert

Thanks John Pusa for reading my post! 2016 is promising a lot for both buyers and sellers! 

TeamChi - Complete Home Inspections, Inc., glad to hear Nashville is expected to have a robust market for 2016 as well! 

Dec 29, 2015 03:34 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kelly, hoping the markets do well for 2016, even though we saw a slight increase in interest rates. 

Dec 30, 2015 12:05 AM
Kelly Hagglund

Thanks Joan Cox! Here's hoping it won't affect home loans until later next year! Hope you have a wonder 2016 

Dec 30, 2015 01:17 AM