The New Year is here and many are asking where home prices will go in 2016 and whether or not it’s a good time to purchase even though we have seen a solid appreciation growth in 2015. Since we don’t have a crystal ball that allows us to look in the future, we take the time to study the predictions from industry experts we trust.
Scroll down to see the infographic provided by KCM.com. With the average appreciation growth at 3-3.5% and predictions showing a 8.7% growth for California and 4.3% for the country in 2016, we have to be a little concerned with prices going up too quickly year over year and interest rates now starting to go up. In 2015 over 256,000 regained equity in the third quarter. This is great, but let’s face it, the majority of homeowners in the North County of San Diego area started seeing records heights in the beginning of 2015, as the growing popularity to live close to the beach becomes higher due to the steady long term growth.
If you are thinking of selling or purchasing a home, you may want to act sooner than later before the market gets too hot where sales become difficult.