The National Association of Realtors published an article with the help of a forecast completed by realtor.com. The forecast predicts that the market will “likely get even rosier in 2016.” 2015 was a great year in real estate because of low interest rates and high employment rates. The article states that things are starting to get to a place where they’re going to level out, this isn’t a bad thing, it just means that we’re going to have to hit some sort of normal again.
However, the article does predict that mortgage rates and rental rates will be rising this year. So if you were holding out on buying a new home, then now might be that perfect time. It never hurts to see what’s on the market, what your current home is worth or what you can afford. We can’t fully predict what’s going to happen with the market so make sure to evaluate your own situation and talk to professionals in your area about what they suggest. As always we’re open to discuss plans.
You can see the full article here.