2016 Records An Increase In US Home Prices

A real estate company, Zillow did a recent study which revealed an increase of close to 7 per cent during last year for homes located in the south of the border. Portland price gain had the fastest pace of 13.8 per cent over the year, with Tampa, Seattle, and Dallas gaining close to 12 per cent. Other cities like Detroit and Orlando also notice a double-figure increase in their price gains.

The US markets continue to be controlled by tight supply, which went down in December by 4.6 per cent. Due to the insufficient provision of homes for buyers, the increase in the price of homes will be as a result of that for quite a while.

Chief Economist at Zillow, Dr. Svenja Gudell said; “Lack of inventory will remain a major concern for home buyers this year. Especially lack of available entry-level homes coupled with high demand will continue to rapidly drive up home values in the near future.”