2016 Buying Trends
- Mortgages are getting somewhat easier to get.
- There are less all-cash buyers than those who obtain mortgages so you are less likely to compete with them.
- Rates are low and the prospect of them rising is not spooking potential buyers.
- Good homes are going fast. Starter homes are moving the fastest.
2016 Selling Trends
- Homes are getting less affordable. Home prices are rising faster than wages.
- There are more Mom-and-Pop investors than institutional ones that drove the market the past few years. Mom-and-Pop investors are becoming landlords by purchasing single-family homes and vacation rentals as investments.
- Inventory is low compared to the demand for homes. This makes for a seller’s market.
- The suburbs are making a comeback. People are willing to sacrifice the size of the home and lot to decrease their commute time.