Beacon technology, new regulations and more
The housing market is, increasingly, back. In some markets, with a vengeance. More quality inventory is available, and buyers– particularly young ones — increasingly see homebuying as a good investment. Here’s what we can expect to see on the real estate front in 2016.
1. Prices and mortgage rates will rise — but slowly
Median sales prices for single-family homes have been on the rise since mid-2012, and the trend is expected to increase well into 2016, but at a slower pace than in recent years.
Prices rose 8 percent in 2012, 11 percent in 2013, and 5 percent in 2014 — analysts predict increases of 2 to 4 percent through 2016.
Meanwhile, the number of distressed property sales continues to decline and reduce the number of short-sale and foreclosed bargains to be had.
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