As this year comes to a close, we look back on a real estate market of low inventory and high prices that have put many buyers on the fence about buying a home. However, next year things may fall into place to create a market where buyers can make a big purchase.
Buyers who have been priced out of the market may finally get a chance to jump in come 2016 – the rise in prices is expected to slow down next year. According to Zillow’s Chief Economist Svenja Gudell, prices are expected to rise 3.5%, resulting in a possible flood of buyers. Jonathan Smoke, chief economist at Realtor.com, said, "We have the potential for about six million home sales just through the months of April through September; that is basically impossible to do.”
(Credit and more info: http://money.cnn.com/2015/12/04/real_estate/2016-real-estate/index.html?iid=SF_LN)
1 week ago via Facebook
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