Tuesday, January 5, 2016

Housing Market Forecasts and Predictions for 2016

The U.S. housing market had a strong year in 2015, and next year could bring more of the same. But we probably won’t see as many double-digit home price gains in 2015, like we did this year. Supply and demand imbalances could continue to drive prices north, while job gains could bring more buyers into the market. 

The biggest home-price gains will continue to be in the West according to www.homebuying institute.com. “In 2015, some of the biggest home-price gains occurred in the western half of the nation. Cities like Denver, Colorado and many in California experienced double-digit gains in property values. Denver and San Francisco, for example, both posted year-over-year gains above 10%. These markets could experience some cooling in 2016, as mentioned above. But many housing analysts expect that the biggest home-price gains will continue to occur in these western markets.”

With three of Portland’s largest employers, OHSU, NIKE and INTEL all committed to active hiring campaigns, coupled with low housing inventory and smaller than normal building starts, this prediction rings true for our local economy as well. We, at Kendall Bergstrom Real Estate, are committed to ensuring your housing goals are reached in 2016.  Let us know how we can help!