Cincinnati Real Estate Predictions
The Real Estate market took a hit in 2006 but has been working its way back up.
2015 was a strong year and 2016 looks to be similar as all the pieces of the market fall together. Low interest rates, plus prices creeping up, plus low inventory equals a comeback year for real estate.
Throughout the country, as the economy has been recovering, employment is rising and consumers have more money and support to be able to purchase homes.
Millennials are coming to the age where are within means to purchase their first homes and Generation X will soon be retiring and looking to downsize. Theses trends will prove to finally bring normalcy to the real estate market.
In the Tristate area, the market looks particularly promising this year.Cincinnati Area Board of Realtors says home sales are up 11.5 percent throughout Butler, Clermont, Hamilton, and Warren counties compared to 2014. Northern Kentucky Association of Realtors also shows an increase in home sales of 4 percent in Northern Kentucky, Boone, Campbell and Kenton counties.
So, if you’re looking to buy or sell your home this year, here are some important real estate predictions to keep in mind, according to Realtor.com:
Normal is coming! The market will finally even out and become predictable.
Generational buying trends will begin to shape up—think more young, qualified buyers
New-home construction will focus more on affordability—but without the need to sacrifice beauty! (Check out my Favorite Things Friday posts on Facebook to get a great look at new construction in Cincinnati!)
Mortgage rates will increase
Rents will increase
2016 has all the potential to become a banner year and, whether you are looking
to buy or sell, you’re going to want to be involved in the opportunity this year
brings. As a real estate agent with more than 10 years experience, I have made my
career by helping families move in the right direction! Although no real estate
agent can predict ALL of the market changes, I know how to read the real estate
forecast and help you anticipate what to expect this year as you plan to buy or
sell your Cincinnati home.
If you are thinking of buying or selling, do not miss out! This year promises a
stable market beneficial to both ends of the bargain. Let me support you in your
home buying or selling journey.
Contact me today: 513-254-5440, email michelle.hudepohl@cbws.com or visit online. I’m ready to help you move in the right direction!
Disclaimer: Michelle Hudepohl is an advertiser on MasonMetu. Many thanks for her continued support. Photos and logo courtesy of ProKids.
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