5 Real Estate Trends in 2016
According to a recent article from the Daily Real Estate News, the following five trends will dominate the real estate market this year:
- Generational buying will increase. This includes millennials who will enter the market as first-time homebuyers as well as GenXers who are already homeowners, but will relocate to better neighborhoods for their families.
- A slower, steady, growth in home sales and prices. Home prices are expected to follow at more normal rates consistent with a more balanced market.
- Volatile mortgage rates. According to Realtor.org, the 30-year fixed rate mortgage will likely end 2016 about 60 basis points higher than today’s level.
- New-home construction shifting their focus to affordable homes for first-time buyers.
- Skyrocketing rental costs.
To read more about the top five real estate trends in 2016, visit Realtor.com.
Categories: industry news