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Real Estate Trends in 2016: 5 Reasons to Buy Your Dream Home Now

Five Reasons to Buy Your Dream Home Now

Flowers blooming and birds chirping are the two most obvious signs that spring is here. Another less obvious spring occurrence is the popping up of “For Sale” signs all throughout the country. There is an expected 7% increase in home sales for 2016. The housing market is always fluctuating, but right now is a prime time to start looking for the house of your dreams. Here are five reasons to begin house hunting for your dream home:

  1. Homeowners will experience another year of gain in pricing:

    Since the housing market dropped about four years ago, prices have been slowly increasing. Nationally, the housing market is expected to see a gain that will be supported by the income of homeowners. This is compared to previous years when there became an issue of too many people buying homes that they could not afford.

  2. Rental pricing is on the rise:

    Many people are turning to renting apartments as many new apartment complexes are popping up across cities. However, the demand for apartments is greater than the number of apartments available. Buying a house is much more affordable because the housing market is on a rise at the moment.

  3. Increase in housing demand:

    No matter the living dynamic of a nuclear family, roommates, a married couple, or simply one person, there is expected to be over a million new living arrangements in this year alone. Most of this number will come from the millennials who are beginning to move out on their own. This increase, in turn, will also cause an increase in new houses being built.

  4. Healthy measures of buying and selling:

    With the Federal Reserve rate increase, there will be a lot of buying and selling throughout the year. People will want to enter the market before there is another spike in the rates. Home values will continue to increase at a steady rate of 5%. This increase mostly includes the home buying occurring in the suburbs where houses are more affordable.

  5. Research market trends yourself:

    It’s important to understand market trends so that you know when it is the right time to buy a house. Being educated on market trends can help you be more successful in your house hunt. Of course, a real estate agent is always the best source for finding out the inside scoop on the market. Paul Chunyk is a San Diego realtor that can help you find your dream home.

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