Windermere Real Estate
Market Review
Vancouver Metro A special report on Real Estate sales in Clark County for Fourth Quarter 2015 / October through December
Fourth Quarter 2015 National Real Estate Market 2016 Economic & Housing Forecast Matthew Gardner, Chief Economist for Windermere Real Estate
The National Economic Forecast 1. The U.S. will continue to expand with real GDP growth of 2.3% in 2016. 2. Employment will continue to expand but the rate of growth will slow. Look for an increase of 1.6% in 2016. 3. The U.S. unemployment rate will continue to drop and end 2016 at 4.8%. 4. Inflation will remain in check with the Consumer Price Index at 1.9%.
The National Housing Market Forecast 5. Mortgage rates will rise, but we will still end 2016 with the average 30-year fixed rate below 5%. 6. Credit Quality – which had been remarkably stringent – will relax a little. 7. Existing home sales will rise modestly to an annual rate of 5.53 million units with existing home prices up by 4.7%. 8. New home sales will jump and be one of the biggest stories for 2016. Look for a 23% increase in sales and prices rising by 3.4%. 9. Foreclosures will continue to trend down to “pre-bubble” averages. 10. The Millennials will start to enter the market. To conclude, it appears to me that 2016 will be a year of few surprises – at least until the general election! Because it is an election year, I do not expect to see any significant governmental moves that would have major impacts on the U.S. economy or the housing market. To view the whole article, go to http://www.windermere.com/blogs/windermere/categories/market-news/posts/2016-economic-housing-forecast
Clark County Real Estate Market 2015 Recap from Mike Lamb, Broker Windermere Real Esate, Stellar Vancouver Metro Excerpt from MikeLamb.info. Reflecting on 2015, there were just two features that characterized the market: really good sales; and really low inventory. Considering the large pool of unsatisfied buyers still looking for homes, and recognizing that inventory in December was down over 30% from 2005, we can’t help but think that total sales for the year might have easily surpassed 2005’s record if there had been more listings available. And as we think about 2016, inventory is an even greater concern. It is particularly striking that the number of Active Listings has fallen below 2,000, and that there have been fewer new listings than new pending sales for the last two months. We are starting the year with almost 25% fewer listings than last year. As a result, if 2016 has any chance of being as good as 2015, we need a lot more listings . . . All data compiled from RMLS, this information is deemed reliable, but is not a guarantee nor is it guaranteed, and should be verified to your satisfaction.
Fourth Quarter 2015 Residential Homes In December of 2015, 502 homes were placed under contract. That number is up 7% from last year. The For Sale numbers are the snapshot of the number of properties for sale at the end of the month. The Pended numbers represent the number of properties that went into the "pending" status in that month. The Sold numbers represent the number of properties that are sold in a particular month.
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What Does Days on Market and Sold/List Price % Report Do? •
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This report shows the percentage of sold price / list price at which an equal number of properties are sold above, equal or below the list price. It indicates how long it has taken to sell those properties. The percentage of sold price / list price helps identify where the market activity is the strongest. The days on market figure helps establish the minimum listing period.
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