According to a recent real estate forecast, the real estate marketing is bound to rise in 2016. One of the main reasons behind this forecast is the belief that in 2016 more employment will be available for people; this means that more people will be able to afford to buy properties and land, also they might just now be able to upgrade their home as well.
Here are some of the recent predictions about the real estate market for 2016:
You can expect a healthy growth in home sales and prices in 2016. However, all of this will require quite a lot of time. This isn’t an issue, just because you are selling properties at a slower rate does not mean that you have to worry, this just indicates that the real estate market is becoming more balanced and normal.
In 2016 you are right to expect young adults’ presence in the housing markets, as it is expected that the most sales conducted in 2016 are likely to be made by buyers who happen to be between the ages 25 and 34. Also, people who have retired and others are likely to sell and buy houses throughout the year round.
Builders have faced higher land costs, limited labor, and demands from the entry-level market this is why they have started constructing more higher-priced homes. However, it is said that entry-level market will change meaning new-house rates are bound to be lower. The mortgage rates are bound to rise while rental costs are likely to only go up in 2016. And because of this, it is more affordable to buy a piece of property in many parts of U.S. However, many people are unable to buy a house due to limited savings and lack stable income.