It’s always best to end the year on a high note, and we can do just that as we take stock of our real estate market performance in 2016.
There was notable growth in BHHS Fox & Roach’s market area this year. The number of pended sales YTD October grew 9.5% over the same period of 2015. However, after hitting a peak in May, the percent increase has declined each month. This tells us that the pent-up demand generated during the Great Recession is likely satisfied. What remains is traditionally “normal” demand that will positively affect the year ahead.
We expect steady yet moderate growth to continue in 2017, and are forecasting a yearly increase of 4% in the number of houses sold. We are also forecasting a modest increase in home prices.
Click the links below to see the Chairman's Report for each region: