Despite a continued tight supply and tight credit, more growth is expected.
It isn’t a secret any longer. 2015 was a good year for the housing market as it continued on its path toward recovery. But what does the future hold? Is more growth on the way or should we expect a bit of a regression? It’s time to break out the crystal ball.
Realtor.com is predicting more growth in 2016, although it will be of a more moderate nature for existing-home sales and a bit stronger for new-home sales. Tight supply and tight credit will continue to be the biggest hurdles but the supply is expected to improve as construction grows.
More millennials and other first-time buyers are also expected to find themselves in the market thanks to an improved job market.