The 2016 Housing Market
Realtor.com article lists low interest rates, soaring rental costs, stabilizing home prices, helpful programs from down payments, deals on mortgage insurance, and major tax breaks as stellar reasons to purchase in 2016.
Tampa Bay Times Real Estate
Susan Taylor Martin, Tampa Bay Times Senior Coorespondant, describes an “out with the old and in with the new” mentality in St. Petersburg’s Historic Uptown Neighborhood.
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PR News Wire
Of the 6 million homes predicted to sell in 2016, the majority of those sales are thanks to Millenials, Gen X’ers, and retirees. Interestingly enough, older millennials in the age group of 25-34 years old are expected to make up the largest group of home buyers in 2016. Jonathan Smoke, chief economist at Realtor.com, says, “Next year's moderate gains in existing prices and sales, versus the accelerated growth we've seen in previous years, indicate that we are entering a normal, but healthy housing market." He also expresses the need to “make up ground“ with a boost of new construction, a trend we are expecting to see in 2016.