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Will 2016 Be One of the Best Real Estate Markets this Decade?

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This year’s real estate market has the potential to be the best we have seen in ten years.  Experts from Freddie Mac have predicted that “total home sales, housing starts, and house prices will reach their highest levels since 2006…”

Several economic conditions are influencing the 2016 real estate market and are detailed in a recent article, “Is Housing Poised to Return to Pre-Crisis Glory?” published on DSNews.com by Brian Honea.  Specifically, mortgage rates continue to remain low and are predicted to stay below 4 percent for the remainder of the year.  Additionally, housing may become more affordable as the rate of home appreciation slows to a steady rate just below 5 percent. Lastly, the potential for very favorable labor conditions, such as increases in job growth and the potential for wage increases, are important factors which will also influence housing market.

For more details, read the article.

Photo Credit:  tdini1

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