2016 Market Summary

Real Estate Agent with The Harris Group 2011031032

Most of 2016 offered the same monthly housing market highlights. The number of home sales was up in year-over-year comparisons, along with the days on market and months of supply. Meanwhile, sales and prices were up in most markets. Unemployment rates were low, wages improved and, as the year waned, we completed a contentious presidential election and saw mortgage rates increase, neither of which are expected to have a negative impact on real estate in 2017.

The overwhelming feeling about prospects in residential real estate for the immediate future is optimism. There are certainly challenges in this market, like continued low inventory and higher competition for those fewer properties, but opportunities abound for hardworking agents and diligent consumers.

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*The information contained herein was pulled from third party site. Although this information was found from sources believed to be reliable, The Harris Group makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. Any reliance on this information is at your own risk. All information presented should be independently verified. The Harris Group assumes no liability for any consequential damages arising out of or in any way connected with your use of the information presented. 

Comments (1)

Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Great post. I think 2017 might continue to be seller's market, however, at a slower pace.

Jan 19, 2017 08:50 AM