Further Expansion for Housing Expected in 2016

Here in San Diego at the 2015 Realtors® Conference & Expo, NAR chief economist Lawrence Yun presented his housing and economic forecast.

What does Yun expect for housing in 2016?

“Sales activity will once again be primarily driven by the ongoing release of more pent-up sellers finally realizing their equity gains and using it towards the down payment on their next home,” he said to a room packed full of thousands of Realtors®.

According to Yun, one variable to even higher sales will be if supply can keep up enough to keep a lid on prices, especially with mortgage rates on the rise.

Below is his complete housing forecast:

Yun Housing Forecast

Yun Economic Forecast