Real Estate Watch – Berkshire Hathaway
What’s Going to Happen in 2016?
This is the big question since 2015 is quickly coming to an end and 2016 is right around the corner. We have been reading several different forecasts, and it looks like the California Association of Realtors (CAR) and HousingWire both predict that sales volume is expected to rise while price growth will slow down. We agree!
According to CAR’s 2016 Market Forecast, existing home sales are expected to rise 6.3 percent over the anticipated 2015 total. It’s the shortage of inventory and continued high costs that will limit the improvement of the market. Leslie Appleton-Young, CAR Vice President and Chief Economist said, “The foundation for California’s housing market remains strong, with moderating home prices, signs of credit easing, and the state continuing to lead the nation in economy and job growth.” We also read that the CAR President Chris Kutzkey said, “Solid job growth and favorable interest rates will drive a strong demand for housing next year.”
We can agree with what the experts are saying. We are seeing homes sell during times when it is typically slower and they aren’t selling way over asking price or well below asking price. For the most part agents are listing homes in the correct price range and they are selling close to that amount. Most sellers are now getting some equity when they sell which has been very exciting.
If you are thinking of buying or selling your home contact us right away. Ranked in the top 20 for transactions for all of San Diego Berkshire Hathaway HomeServices California Properties, we are your first and only call for all of your real estate needs.