Home Sales Rebounded in 2015, Holding Steady in 2016

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After nine years of slower home sales, the 2015 stats show that the real estate market has finally rebounded. Home sales across the United States were higher than ever. In fact, the numbers showed the highest annual home sales recorded since 2006.

2015 Real Estate StatisticsHome Sales Rebounded in 2015

It is estimated that about 5.26 million homes were sold in 2015, which is 6.5% higher than the total home sales in 2014. Another interesting statistic is to see that the median sale price increased as well, approximately 6.8% over last year.

So, what will happen in 2016? Is this year a good time for you to buy or sell a home? According to the real estate forecasts, it is anticipated that home sales will remain steady in 2016, and prices will continue to increase. According to the reports, we can anticipate a 4% increase in median home sales in 2016.

Why Have Home Sales Rebounded?

There are multiple factors that impact the rebound of home sales. The economy is now thriving, and we’ve seen trends of steady job growth as well as low mortgage interest rates. People have the income to purchase a new home, and they want to take advantage of the low interest rates that are available.

These factors, combined with the right balance of inventory and buyers, has created the perfect climate for the real estate industry. Even though the trends have been good, we still haven’t reached the peaks that were hit in 2005, when 7.08 million homes were sold annually.

Should You Buy or Sell a Home This Year?

The job market remains healthy and mortgages are still affordable, making it a great time to buy or sell a home. If you are planning to move soon, then this year might be the perfect opportunity for you to take advantage of the good real estate market. Make sure to have a trusted real estate agent by your side, who can help you find the right home for your family at a price that you can afford.

If you need help with real estate in Temecula, call me today! I am an expert in the area, and I would love to help you buy or sell a home: (951) 473-0390