Market Predictions for 2016

housing_recovery

Here’s some 2016 Real Estate Market Projections/Predictions for 2016 from CNBC. “Total homes sales next year are expected to reach the highest levels since 2006 on the back of new construction and the existing housing market, realtor.comreported Wednesday.

The report contains several surprises. Among them, Providence, Rhode Island, ranked as the hottest market for 2016, and millennials are expected to make up the biggest demographic of homebuyers next year.

Sales of existing and new home sales are expected to reach 6 million for the first time since 2006. The pace of growth of existing home sales and prices is expected to slow to 3 percent but remain strong overall. Meanwhile, new home sales are seen increasing 16 percent.

Realtor.com anticipates new home starts will increase by 12 percent.”

There’s more: http://www.cnbc.com/2015/12/02/2016-home-sales-to-be-best-since-2006-realtorcom.html

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