Here is some valuable information to get you excited about 2016!!
Predictions For The New Year
The predictions are flying in regarding the mortgage and real estate markets. Mortgage Bankers Association, Realtor.com, Redfin, Fannie Mae are all looking extremely Bullish. We should see a BOOM for the Mortgage Industry next year. National Mortgage News predicts over 2/3 of mortgage companies will be adding staff from Operations to IT to beefing up compliance. Don’t you love when your company is ahead of the curve? We have been hiring across the board in IT, Compliance, and Ops. Movement U and the concept was really revolutionary and is cranking out millennial employees for our Phoenix, Charlotte, and VA Beach Op Centers. Experts are predicting there is a significant need to hire millennial employees in 2016. Millennials and the rest of the demographics will be buying in droves…...
The Mortgage Bankers Association projects that the volume for purchase originations will rise by 22% next year, to nearly $1 trillion!
It looks like the consensus is for moderate real estate growth and moderate interest rate increases, with new home construction and first time buyers leading the way.
Realtor.com®: Home sales are poised to zoom to the highest levels since 2006 next year, according to a 2016 housing forecast issued by realtor.com®.
Gains in new-home construction and existing home sales are both expected to push total home sales to the highest levels in years. The new-home construction market is expected to see the most gains in 2016, with realtor.com® forecasting a 12 percent year-over-year increase in housing starts and a 16 percent year-over-year growth in new home sales.
Fannie Mae: “We see consumer spending as the biggest driver of growth moving into 2016,” said Fannie Mae Chief Economist Doug Duncan. “An uptick in average hourly earnings and low unemployment numbers are contributing to a positive outlook for consumer spending. The supply of existing homes remains lean, putting significant upward pressure on home prices. Meanwhile, we expect interest rates to rise only gradually through next year, and an improving income trend should help support affordability.”
Redfin: Housing projections for next year include slowing price increases and sales growth, easier credit, more first time homebuyers and continued inventory shortages. Redfin sees home prices increasing in the 3.5 percent to 4.5 percent range next year.
Author:Kelly Meyer Phone: 704-819-2774 Dated: December 30th 2015 Views: 832 About Kelly: ...
View our latest blog posts in your RSS reader. Click here to access.