Slow and steady wins the race when it comes to what conditions build confidence in the housing market.
Other than investors looking to make money on extreme situations, the majority of people feel more confident making a move in the housing market when a steady pace has been acknowledged by majority opinion.
The market is balancing itself out.
When the market balances itself out the predictability that is yielded from that balance brings people out.
Most of us feel safer making a commitment when we are in an environment we consider controlled.
We are anticipating a lot of controlled movement in the housing market next year.
In my office we have been talking about the 2016 market all year long.
Here is what we have been talking about everyone: The market is gearing up to be inundated with buyers.
#1. More homes will be available and more buyers will take action.
#2. We will see home prices continue to increase in 2016 but likely at a more predictable rate. This will attract homeowners who were waiting for the pace of (existing) home appreciation to relax prior to listing their homes.
#3. Buyers this past year have had to move so incredibly fast to put in offers on homes they liked because inventory was consistently low making competition consistently high. Those two factors left us with more buyers than we had homes to put them in!
We have all the signs that 2016 will be a good year to take advantage of the housing market regardless if you are thinking of buying or selling.
As we move into 2016, I hope that this bit of good news sets the tone for your year to come.
Please keep asking questions through out this next year about the economy and how it could impact your next move.
There will always be someone like myself eager to tell you about current trends and facts but you also must think what is in it for you and your family personally every step of the way.