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The real estate market data for Dayton and Cincinnati from 2015 is in, so we wanted to take a look at the current status of the market and what we think could happen moving forward this year.
We saw that 2015 was a great rebound year for real estate, and all indications show that spring 2016 is going to our busiest spring in a decade. That’s great news for you and the market.
So what can we expect to affect our market in 2016?
All indications show that interest rates will rise this year. As a buyer, this will greatly affect your buying power. As a seller, it will greatly affect the number of buyers in the market who can afford your home. A recent Zillow study found that 70% of buyers said this rise in interest rates would not affect their decision to buy a home at this time.
That’s good news, but it also means that 30% of buyers would delay their decision to buy a home, or they would greatly downscale the price they’re willing to pay for a home.
If I was a buyer, I would buy a home immediately before the prices go up and the interest rates go up. If I was a seller, I would get my home on the market right away while there’s still a large number of buyers on the market.
There’s going to be a lot going on in 2016 and it’s going to be a great year for real estate. For most buyers and sellers, now is the perfect time to act.
Thanks for watching. For a free real estate consultation, please call or email and we’d be happy to work with you.
