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A few weeks ago, Jonathan Smoke, the Chief Economist at realtor.com, exclaimed: “All indicators point to this spring being the busiest since 2006.”
Now, Freddie Mac has doubled down on that claim and is saying that 2016 will be the best year that the real estate industry has seen in a decade. In their March Housing Outlook Report, Freddie Mac explained:
“Despite the challenges facing the housing market, we expect this to be the best year for housing in a decade. Home sales, housing starts, and house prices will reach their highest level since 2006 according to our latest forecast…Challenges remain, with low housing supply and declining affordability being a key concern in many markets, but on balance, the housing markets in the U.S. are poised for the best year since 2006.”
The key indicators that have given Freddie Mac such a positive outlook are:
Low interest rates
A resilient labor market
An increase in household formations
A projected increase in newly constructed homes
2016 looks to be shaping up as a great year for residential real estate. Whether you are thinking of buying or selling, now may be the time to sit down with a real estate professional to discuss the new opportunities that are arising.
Denver Colorado Real Estate Specialist- Wendy FIsher is a motivated professional helping others find their dream homes everyday. Wendy Specializes inParker Aurora, Lone Tree, Centennial and surrounding Denver areas. She has an advanced marketing strategy and has expansive knowledge of the local neighborhoods. She works closely with her clients on a daily basis and listens to her clients needs. For help with buying or selling your home please contact Wendy Fisher 303-597-6699.
Tatyana truly understands the dynamics of selling homes in the Denver Metro real estate market and is an expert at educating her clients so they can make the best and informed decisions for their need....
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