Roseville, Calif. – Based upon a recent report that was released by the Mortgage Bankers Association, things are only going to get better in the real estate market in the future.
Nearly 16 million new households are expected in the U.S. housing market by 2024, which Mortgage Bankers Association economists said should lead to much greater demand for both renter- and owner-occupied housing. MBA Vice President of Research and Economics Lynn Fisher added, “With an average of 1.6 million additional households per year, housing market growth over the next decade could be among the strongest the U.S. has ever seen.”
If this is right and holds true for California, then our Sacramento housing market could bring us to the final stages of the recovery and make it complete. This may not show up in the current jobs report, but it does provide some explanation for why the Federal Reserve Board is not raising rates but keeps saying to be prepared for a rate hike. Builders are already talking about a shortage of skilled laborers.
If you have any questions about buying or selling a home in the current market, feel free to reach out to me at the MagnumOne Realty Office in Roseville at (916) 899-6571 by email to [email protected] I would be happy to answer your questions.
We specialize serving the needs of buyers and sellers of homes in the Sacramento area including Sacramento, Placer, El Dorado, Sutter and Yuba counties.