Last year was the best housing market since 2007, and 2016 forecasts are even better. Chief Economist Jon Smoke of Realtor.com predicts these trends: 1.) A return to normal: Fewer distress sales, normal growth, and a balanced market. 2.) A third of 2015 sales were to Millennials, who will make 2016 “the best year to sell in the near future.” 3.) New home builders will focus on affordable homes. 4.) Expect a 60-basis point rate increase from the Feds. 5.) Already high rents will increase more than home prices. - Smoke also said Florida will be “one of the hottest spots in the country” due to rising demand, momentum, and higher prices. Florida Realtor Chief Economist Dr. Brad O’Connor predicts an 8-10% increase in sales across FL and a 5% increase in home prices, in 2016.
Tony DeCamillis, Realtor - New Smyrna Beach, FL
(855) 492-3456 - www.nsbrep.com
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