Fannie Mae’s latest housing update, from their Economic and Strategic Research Group, provides some clarity as to where they think we are headed in 2016 when it comes to Home Sales, Housing Starts and Mortgage Rates. And from our good friends over at Keeping Current Matters, one of our favorite real estate blogs to follow, comes a clear infographic that sums up the numbers:
The Bottom Line:
- Home sales, after the normal 1st quarter dip, will increase about 4% in 2016. This is in line with other forecasts we’ve seen so far.
- Housing starts, a key indicator, will be much higher in 2016. We’ve been seeing a range of 10-15% ahead of this year.
- The 30 year mortgage rate, though increasing, will remain at historically low levels throughout 2016.
Reach out to us and we’ll help you work out what this means to your particular scenario. Planning is everything!