The Residential Economic Report – National Edition 3Q16
Join Mark Boud, Senior Vice President & Chief Economist of Metrostudy, as he presents the 3rd Quarter 2016 National Residential Economic Report. These reports are available for every major US Metropolitan market. For more information on The Residential Economic Report, visit: http://metrostudy.com/products-se…
Second quarter report highlights —
- Job growth has slowed modestly, but this is to be expected in an election year.
- Much of the market uncertainty that has emerged during 3rd and 4th quarters is due to the uncertainty caused by a raucous election year.
- Under supply of housing is growing, but relative over supply may form in the top tiers of housing price and size for many markets. The Millennials are underserved in terms of entry level housing and the first few tiers of move-up housing.
- Mortgage rates are likely to rise at a slow rate, beginning in December 2016.
- Price appreciation will continue to slow – not because of worsening market demand for housing, but rather due to reduced affordability caused by increasing mortgage rates and the approach of a ceiling in pricing potential.