The Chief Economist at Realtor.com, Jonathan Smoke, reported that “All indicators point to this spring being the busiest since 2006.”
Freddie Mac is also supporting this statement 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 stated:
“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.”
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The 4 key research statistics pointing to 2016 being the best year in real estate in the last 10 years 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! If you are considering buying or selling this year in the Charlotte market, give us a call to discuss all of the options available! One of our team members can help you at (704) 997-3794.
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