Economy to grow while improvement in labor market slows
According to The Wall Street Journal, the economy is expected to continue growing, while improvement in the labor market will slow.
On the housing front, the average forecast for new home construction is expected to be about 1.27 million units in 2016. If this forecast holds true, that would be the highest level since 2007. In addition, national home prices are predicted to increase by 4.5 percent; a rate slightly slower than in 2015.
Other predictions have the unemployment rate dropping 0.3 percentage points in 2016 and the real gross domestic product rising 2.5 percent.