Tucson Real Estate: 2016 Will Be the Best Year in a Decade
The Tucson real estate market is off to a great start for 2016! The Tucson housing market is shaping up to be a great year. Real below to find out why…
A few weeks ago, Jonathan Smoke, the Chief Economist at realtor.com, exclaimed: “All indicators point to this spring being the busiest since 2006.”
Now, Freddie Mac has doubled down on that claim and is saying that 2016 will be the best year that the real estate industry has seen in a decade. In their March Housing Outlook Report, Freddie Mac explained:
“Despite the challenges facing the housing market, we expect this to be the best year for housing in a decade. Home sales, housing starts, and house prices will reach their highest level since 2006 according to our latest forecast…Challenges remain, with low housing supply and declining affordability being a key concern in many markets, but on balance, the housing markets in the U.S. are poised for the best year since 2006.”
The key indicators that have given Freddie Mac such a positive outlook are:
- Low interest rates
- A resilient labor market
- An increase in household formations
- A projected increase in newly constructed homes
Bottom Line
2016 looks to be shaping up as a great year for residential real estate in Tucson, AZ!
Whether you are thinking of buying or selling, now may be the time to sit down with The Tyler Ford Real Estate Team to discuss the new opportunities that are arising.
