The housing industry in Fort Wayne, Ind. has some good news to kick off a new year: both national and local forecasts for home sales show a positive picture. Journal Gazette staffer Rosa Salter Rodriguez probed into the markets and attributes the positive projections to continuing low interest rates, improving employment status, and a trend of move-up buyers. Rodriguez writes,
"Both the National Association of Realtors and the National Home Builders Association forecast 2016 to bring gradual increases in sales and building, with pent-up sellers beginning to realize equity gains and rolling them into the purchase of other houses. Home sales are predicted nationally to rise by about 3 percent in 2016, while single-family home starts are projected to go up by 11 percent and multifamily starts by 9 percent.
Realtor Kyle Ness of Fort Wayne, who heads the multiple listing service for Fort Wayne-based Upstar, the Upstate Alliance of Realtors, forecasts the long-standing seller’s market will continue. A seller’s market is one in which prospective buyers outnumber the number of homes for sale.Ness said homes, particularly ones in desirable neighborhoods with desirable features, have been selling quickly. "