Princeton Town Topics – Let’s Talk Real Estate – January 13, 2016
SUBURBAN LIVING HOTTER THAN EVER FOR 2016
Real estate website Zillow has made its predictions for the 2016 real estate market, and if they come true, it should be a good year for both buyers and sellers, especially in areas like Princeton and the surrounding neighborhoods. Here are the highlights:
- Buyers – especially first-time buyers – will begin to move farther outside of urban areas like New York City and Philly, opting instead for “amenity-rich suburbs – mini-cities, with walkable cores and an urban feel” – just like Princeton.
- First-time buyers will be a little older on average, with a median age of just over 33 years.
- Soaring rents across the country will mean more people will enter the housing market as first-time buyers.
- Home value growth will also increase in 2016 by about 3.5 percent, according to real estate market experts polled by the website.
In Princeton and surrounding markets, the 2016 real estate is poised to reach new heights, and combined with the recent positive economic outlook, that means it’s a good time for both buyers and sellers to make their move and enter the market to maximize their returns.
