Wrapping Up Real Estate in 2015
Posted December 30th, 2015 by Moving Station

As we look at the final few days of 2015 and set our sights on the New Year, we thought it would be helpful to discuss the current trends in the real estate market.
With most local markets stabilizing, we are seeing only modest appreciation in many areas and even slight declines in some cities across the country. For the most part, we’ve seen home sales stay at an even pace. Where the major downturn of the market several years ago affected the entire country, today’s real estate market trends are really much more localized, based on economic factors in a particular city or region. For instance, large companies moving into or out of a community can really impact whether the real estate market there sees an improvement or a decline.
Just in the last couple of months, with new regulations being implemented in the mortgage industry and rising median home prices, existing home sales actually dropped a significant amount, surprising economists who had predicted sales would increase by about half as much as they fell. This was likely a combination of the new lending regulations coming into affect and slowing down the purchase process, as well as rising home prices and shrinking inventories causing buyers to be more cautious.
So while we are, for the most part, experiencing a “normal” real estate market, the trends are still quite tentative and subject to other economic factors which can pull home sales in either direction with little notice. 2016 promises to bring more of the same with the potential for rising interest rates to limit buyers’ purchasing power and thus, affecting home sales overall. As always, consult your local real estate professionals for information most specific to your property and for the most up to date information on the real estate market in your area.
Wishing everyone a Happy and Healthy New Year!

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