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Top 5 Real Estate Trends for 2016 in South Florida!

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Top 5 Real Estate Trends for 2016 in South Florida!

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real estate trends

Top 5 Real Estate Trends for 2016 in South Florida!

In a recent article written by Jonathan Smoke for REALTOR.com®, “It’s almost the new year. Get ready to break out the Cristal: We had a great 2015—the best year for housing since 2007. And our forecast here at realtor.com® projects an even better year in 2016.”

Smoke mentions:

Here’s a closer look at the trends that will have the greatest impact on the housing market in 2016.

  1. We’ll return to normal (Anyone remember normal?)
    The year ahead will see healthy growth in home sales and prices, but at a slower pace than in 2015. This slowdown is not an indication of a problem—it’s just a return to normalcy.
  1. Generational shuffle will make 2016 the best year to sell in the near future
    Millennials emerged as a dominant force in 2015, representing almost 2 million sales, which is more than one-third of the total.
  1. Builders will focus on more affordable price points
    One aspect of housing that has not recovered yet has been single-family construction. Facing higher land costs, limited labor, and worries about depth of demand in the entry-level market, builders have shifted to producing more higher-priced housing units for a reliable pool of customers.
  1. Higher mortgage rates will affect high-cost markets the most
    We told you mortgage rates would go up in 2015, and they did—but they also went back down.
  1. Already unaffordable rents will go up more than home prices
    The housing crisis that politicians are ignoring is that the cost of rental housing has become crushing in most of the country. More than 85% of U.S. markets have rents that exceed 30% of the income of renting households.

For all of Smoke’s comments, please click here for the complete article.

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Article by: Jeannie M. Ferrara

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