It’s almost the New Year. As we say goodbye to 2015, it’s time to look ahead at what 2016 will bring to the real estate market. Economic growth will continue to chug along, employment will continue to increase, and homebuyers will continue to feel confident in purchasing a new home. Here’s a closer look at the trends for 2016:
New homes will come back big time. New home construction was one of the hardest-hit industries after the housing bust. Single-family home construction increased 10 percent this year and is expected to rise another 23 percent in 2016, according to the National Association of Home Builders. That coincides with healthy sales. New home sales grew 15 percent this year and are forecasted to jump 26 percent in 2016.
Buyers will want green and smart homes. Homebuilders are increasingly incorporating eco-friendly features into projects to meet growing demand largely from affluent Baby Boomers who prioritize energy efficiency, a healthier indoor environment and durability. More than half of builders say they are working on green projects, according to a study from Dodge Data & Analytics for the National Association of Home Builders. Those percentages are expected to rise over the next five years.
Homeowners want to be social. Neighborhoods with a clubhouse allow residents to easily stay social and make new friends. With more time on their hands from retirement, boomers want a clubhouse for member dining, hospitality and entertainment. They also want natural amenities such as kayaking, biking, and walkable communities.
For those seeking a new address in Florida, GlenLakes on the Adventure Coast might just fit the bill. Located along the coast north of Tampa, GlenLakes captures everything to love about the Florida lifestyle: natural surroundings, championship golf, country club amenities, a secure, immaculately maintained community and captivating home designs, perfect for entertaining and relaxation. For more information on a new 2016 home in this waterfront community, click here.