Forecasts for the 2016 housing market are starting to trickle in, and realtor.com is one of the first analysts to predict that next year’s market will be a picture of “moderate, but solid growth.” According to Move Inc.’s online real estate services provider, existing home sales and prices will slow to about 3 percent year-over-year due to the Fed’s expected interest rate hike to 4.65 percent, as well as tight inventory, affordability concerns and continuing tight credit standards.
- Existing home sales and prices will slow to about 3 percent year-over-year growth in 2016, and homeownership rates will decrease slightly, according to realtor.com.
- Sales in 2016 will be driven by three homebuyer segments: older millennials, young Gen Xers and retirees.
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