As the New Year draws near, many people are wondering about the real estate market trends expected in 2016. Will this year be a good opportunity to buy or sell your home? Market trends are looking good, and experts are saying that home sales will likely continue moving upward. In fact, it is anticipated that home sales will reach 2006 levels this year!
If you are planning to buy or sell a home, then right now is the best time to talk with an Atlanta real estate agent. In this article, we will discuss 2016 Housing Market Trends: What to Expect in the New Year. By working with an experienced team, like Duffy Realty of Atlanta, we can help you maximize the benefits of a real estate transaction this year.
Home Sales and New Construction
The real estate market has experienced big changes over the years, and the past 10 years have been interesting to observe. After the real estate market dropped, home prices have been increasing since 2006. According to the report by Realtor.com, it is estimated that this trend will continue in 2016.
Growth is expected in both new construction and existing home sales, and both of these factors will influence overall home sales and real estate prices. We are confident in saying that the real estate market has completely recovered, and it is at a normal and healthy level. According to the report, it’s anticipated that a total of 6 million homes will be sold in 2016!
Buying Force in 2016
The increase in sales is expected to be fueled by several groups in 2016:
- Millennials: It is anticipated that Millennials will be the biggest demographic of home buyers, because many of these people are experiencing an increase in income and growing needs of their families.
- Generation Xers: Another large demographic of home buyers will be young generation Xers, especially because they are entering in their prime earning years.
- Retirees: The third largest segment of home buyers are Retirees, because these people are looking to downsize their homes for retirement.
For the Atlanta real estate market, the most sought-after market for two of these demographics is the Atlanta, Georgia area! So, if you are planning to buy or sell a home and you live in Atlanta or any of the surrounding areas, then right now is a great time to get started with your plans.
Take advantage of the real estate market trends, and let Duffy Realty of Atlanta help! We understand the real estate market, and we can help you with the purchase of a new home and the sale of your existing home. For best results, we encourage you to take action right away, instead of missing this great opportunity by delaying your decision.
For more information about real estate trends in Atlanta, Georgia, contact Duffy Realty of Atlanta any time. Our experienced team is always available to answer your questions and help with anything that you need: (678) 318-1700
We hope you enjoyed our article about 2016 Housing Market Trends: What to Expect in the New Year.