State of the Market – January 2016

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Horning, Joe 2 head shot smaller

A letter from Joseph A. Horning, President of Shorewest, REALTORS®

The beginning of the year is a time to ponder the past while looking forward to the upcoming year. Shorewest had a strong 2015, selling almost 12,000 homes — over 7,000 more than our closest competitor. I’m confident that the housing crisis is finally behind us, and 2016 will be another great year with continued growth and increased home prices.

Industry experts forecast healthy growth in home sales and prices for 2016. This will be spurred by millennials entering the home market; Gen Xers, in their prime earning years, having more disposable income to move up, and Baby Boomers seeking to downsize.

Interest rates are also expected to increase by year end, spurring more people to buy earlier in the year. And, for those renting, My Dwelling, one of Shorewest, REALTORS® family of companies, is there for rental, property management or home and condo management.

Currently, however, we are still dealing with low inventories, making it difficult for some buyers to find a home. That’s why selling now rather than waiting for the spring market may result in a higher sale price as well as a quicker sale.

Shorewest is looking forward to continued growth. We broke ground in December for a new, state-of-the-art sales office on the corner of S. 68th Street and W. Layton Ave. in Greenfield. It will provide a modern, welcoming space for our clients.

Thank you for the privilege of assisting with your home buying and selling needs.

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Categories: Quarterly Newsletter, Real Estate News

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