The Fiscal Times recently published an article about ten real estate trends coming up in 2016. Some highlights from the this article include:
- Home prices are expected to continue to increase slowly, 3.5% throughout 2016
- Interest rates should slowly inch up through the year as well. However, according to the Mortgage Bankers Association, the 30-year mortgage rate shouldn't exceed 4.5% - still a very low rate compared to historical numbers.
- It will remain cheaper to buy than to rent. Buying is cheaper than renting in every one of the country's 100 largest metro areas and that disparity will likely grow accoring to Rent.com.
So what does that mean for homeowners and renters in Boise, Idaho; Tri-Cities, Washington; and Boardman, Oregon? It means that 2016 could be a great time for you to sell your home or leave the rental market and purchase a move-in-ready home or begin thinking about your to-be-built house!