What to Expect from the Real Estate Market in the Fall of 2016

Every season, the real estate market trends seem to change. As we enter fall 2016, what can we expect to happen to the real estate market? How are prices going to be affected by the presidential election? What should potential buyers be keeping an eye out for? Can the proper real estate sign installation really help my property sell?

This guide answers all of your pressing questions, as we take a look at the state of the real estate market for the fall, and what buyers and sellers can expect during the coming season.

Mortgage Rates Will Start Climbing

Mortgage rates have been low for a while now, but that is looking to change as we enter the fall season. And, the areas that will be hit most by this shift will be those with higher home prices.

The Market Will Make a Gradual Return to Normal

For more than 15 years, the real estate market has been in a serious state of flux. But the deeper we head into 2016, the more “normal” and balanced it will become. This means that new home construction and distressed sales will trend closer to their historic levels than they have for years.

Millennials Will Drive the Fall Market

The fall traditionally sees a slowdown in sales, but in 2016, Millennials will finally start making a difference as more and more of them start buying their first homes. You can also expect financially recovering Generation Xers and aging Baby Boomers to also make a big impact in the home buying field this fall.

Rent Rates to Continue to Climb

Rent rates are climbing at a much faster pace than home prices. This is a trend that started in 2015 and it will be remaining steady through the fall of 2016 and beyond, as American households simply lack the creditworthiness, savings, and stable income that’s required by lenders to qualify for a mortgage these days.

Inventory Will Remain Light

At the end of summer 2016, there were very few homes available for sale on the market compared to what’s normal for the “traditional” summer season. At the end of August, there were just 2.29 million homes on the market. That’s approximately 5.2 months’ worth of home sales. This is down by nearly 2% from August 2014. And this trend is going to continue into fall.

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