We’ve already posted about what some analysts see as the top housing trends for 2016. Some of those bullet points include…
- … Interest rates will stay low next year, even as they inch back to normalcy.
- … Renting is a strategy that gets costlier every year, and 2016 will be no exception to the rule.
- … Home prices will stabilize, after years of luxury real estate being available at relatively low prices.
Those are also some of the reasons, listed by Kimberly Dawn Neumann of realtor.com, for why potential home buyers should be excited about the New Year and 2016. Many bullet points on the lists overlap. On Neumann’s “6 Stellar Reasons to Buy a Home in 2016,” for example, the few two bullet points read…
- …Interest rates are still at record lows. Even though they may creep up at any moment, it’s nonetheless a fact that interest rates on home loans are at historic lows, with a 30-year fixed-rate home loan still hovering around 4%.
- … Rents have skyrocketed. Another reason home buyers are lucky is that rents are going up, up, up! (This, on the other hand, is a reason not to be thankful if you’re a renter.)
- … Home prices are stabilizing. For the first time in years, prices that have been climbing steadily upward are stabilizing, restoring a level playing field that helps buyers drive a harder bargain with sellers, even in heated markets.
In other words, many of the housing trends that we can expect in 2016 are a good sign for prospective home buyers.
For some of Neumann’s other reasons, click here to visit the article.