“All indicators point to this spring being the busiest since 2006.” Jonathan Smoke, the Chief Economist at realtor.com, made this prediction a few weeks ago.
Freddie Mac has now declared that 2016 will be the best year in a decade for the real estate industry. Their March Housing Outlook Report stated that “home sales, housing starts, and house prices will reach their highest level since 2006 according to our latest forecast” while challenges still exist with low housing supply and the key concern of declining affordability. The positive outlook results from several key indicators: low-interest rates, a resilient labor market, an increase in household formations, and a projected increase in newly constructed homes.
Whether you’re considering buying or selling, now may be the perfect time to call us and discuss the opportunities of this great year in real estate!