New home construction and existing home sales are projected to push the total home sales to the highest levels in years in 2016. Most of the gains will be in a resurgence of housing starts and new home sales, an area that has suffered in recent years, with existing home sales coming in at a more modest 3% increase in sales.
“Next year’s moderate gains in existing prices and sales, versus the accelerated growth we’ve seen in previous years, indicate that we are entering a normal, but healthy housing market,” says Johnathon Smoke, realtor.com’s chief economist
Buying forces
Millenials: Expected to make up to 30% of the housing market demographic next year, Important is commute time & neighborhood safety
Young Generation Xers: Entering family-raising and top earning years. More than 2/3 of this group are already homeowners and will look to move up
Retirees: Relocating & retiring, downsizing, interested in customizable housing
It all looks good for the upcoming year with opportunities for both buyers and sellers. Whichever end you are on, First Weber has neighborhood realtors all over Wisconsin who are ready to assist you through your home sale or purchase. Contact a First Weber agent today.
For info on the Wisconsin real estate market, click here.
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First Weber sells real estate throughout Wisconsin : Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Southwest WI, Central Wisconsin, Northeast Wisconsin andWisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com
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source of information: Realtormag