Real Estate: 2016 Will Be the Best Year in a Decade

By
Real Estate Agent with EXP Realty LLC SL3230490

A few weeks ago, Jonathan Smoke, the Chief Economist at realtor.com, exclaimed“All indicators point to this spring being the busiest since 2006.”

Now, Freddie Mac has doubled down on that claim and is saying that 2016 will be the best year that the real estate industry has seen in a decade. In their March Housing Outlook ReportFreddie Mac explained:

“Despite the challenges facing the housing market, we expect this to be the best year for housing in a decade. Home sales, housing starts, and house prices will reach their highest level since 2006 according to our latest forecast…Challenges remain, with low housing supply and declining affordability being a key concern in many markets, but on balance, the housing markets in the U.S. are poised for the best year since 2006.”

The key indicators that have given Freddie Mac such a positive outlook are:

  • Low interest rates
  • A resilient labor market
  • An increase in household formations
  • A projected increase in newly constructed homes

Bottom Line

2016 looks to be shaping up as a great year for residential real estate. Whether you are thinking of buying or selling, now may be the time to sit down with a real estate professional to discuss the new opportunities that are arising.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Michael J. Perry 04/12/2016 12:21 AM
Topic:
Home Selling
Tags:
jacksonville
housing market update
for buyers
for sellers
first time homebuyers
moveup buyers
sylvia albers
selling with sylvia and the albers team

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Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

2016 seems like a much more competitive market and should be a strong Seller's Market by year end.

Apr 12, 2016 12:13 AM #1
Rainmaker
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Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Sylvia Albers, that is an awesome blog post very well written. Congratulations!  I started my real estate career with Watson Realty on Amelia Island Florida. 

Apr 12, 2016 12:51 AM #2
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Sylvia Albers

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