Time to break out the Crystal Ball and see what is in the forecast for the 2016 Baton Rouge housing market. A Bank of America Merrill Lynch global research group has stated they expect the ongoing housing recovery to continue this year. The economic research group also gave a real estate market forecast for sales activity. Existing home sales, they said, could increase by as much as 5% in 2016, as it suggest a higher level of demand. They also pointed to a possible slowdown in home-price appreciation in 2016. They expect houses values nationwide to rise by a mere 1% next year, due to “home price overvaluation relative to income.” Locally we may possibly see home values increase more then that figure.
One other good note is that Baton Rouge is ranked among Trulias’ list of 10 “markets to watch in 2016.” These are areas with a healthy combination of housing affordability, job gains, and demand (based on online search activity).
It’s a great time to sell and a healthy time to buy a Baton Rouge home!
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