CNN lists four reasons why potential home buyers should take the plunge next year. First of all, real estate values will likely slow their pace next year after a wave of rising prices. But a word of caution: they aren’t expected to decelerate much in the hottest U.S. markets, like San Francisco, Boston, and New York.
The slowdown in home prices will prompt more owners to put their properties on the market, giving buyers more choices, according to Realtor.com chief economist Jonathan Smoke.
Another reason to buy a home in 2016 is because the Federal Reserve is expected to begin increasing interest rates soon, which means the window for cheap mortgages is closing. "You are likely to get the best rate you will possibly see, perhaps in your lifetimes through the majority of next year, but certainly, the earlier the better," Smoke said in the CNN article.
Finally, rent prices are expected to continue increasing through next year so buying may be cheaper than renting in most cities.
Read the full article on CNN.
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