What to Expect from the Housing Market in 2016

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A Zillow economist shares thoughts on hot markets, Millennial homebuying, and new house trends.

December 29, 2015
What to Expect from the Housing Market in 2016

Photo: Jeremy Erickson/Creative Commons.

The upcoming year could be a good one for a few cities in the middle of the country.

In an interview with Reuters, Zillow chief economist Svenja Gudell said that Boise, Idaho, Salt Lake City, Utah, and Omaha, Nebraska, could be the hottest housing markets of 2016. The cities’ unemployment rates, population growth, and home value all factor into that outlook.

Also, Gudell predicted that more condos will be sold next year, Millennial homebuying will see an uptick, and builders will construct larger homes on smaller lots, to combat expensive land prices.

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