Before we get too far into 2016, I wanted to put my predictions down for the year. Here are my 2016 Arlington Real Estate Market Predictions:
- Prices will increase more than the 2% we’ve been seeing the last couple of years. However, by the end of the year, they will level off and stabilize.
- Mortgage rates will finally go up.
- Rent will go up, hopefully pushing more renters into buying.
- New construction will continue to be built but I think the pace will slow. The demand for it right now isn’t keeping up with the supply.
- Single family homes will see the biggest increase is average pricing.
I do this every year, so check out the results in January 2017 to see how I did!