“Is this going to be your year to buy a new home?
No housing expert has a crystal ball, but Svenja Gudell, recently appointed chief economist for the housing site Zillow.com, has looked at enough data to make a pretty good guess.
She examines vast amounts of housing market statistics – everything from about where people are going to want to live to what areas will be hot to what the future could hold for renters – on a daily basis.
Reuters asked Gudell to share her insights on what she thinks the 2016 housing market will be like.
Q: What markets do you think will be places to watch in 2016?
A: Next year, the combination of unemployment, population growth and the home value growth will make markets like Boise, Idaho, Salt Lake City, Utah, and Omaha, Nebraska, stand out.
Denver, Seattle, Dallas/Fort Worth and Portland, where inventory has been declining in the last year and demand continues to rise, will also be hot locations in 2016.”
To read the rest of this article, including Gudell’s predictions regarding Millenials and mortgage rates, click here.