Join Mark Boud, Senior Vice President & Chief Economist of Metrostudy, as he presents the 4th Quarter 2016 National Residential Economic Report.
Fourth quarter report highlights —
- Post election, the consumer confidence index has increased from 110 to 114.
- Housing shortages will become more intense. Look for an accelerated and shorter, sharper real estate cycle, with a peak in the 2018/19 time frame.
- An extended period of low mortgage rates has allowed home prices (and land values) to rise higher and more rapidly than they should have. Rising mortgage rates may contribute to housing over valuation in many markets, despite only modest price appreciation being forecast for the next few years.
The National Residential Economic Report is a modeled forecast released quarterly of over- and under supply of housing in the nation, as well as over- and under valuation, which impacts the future of housing most significantly. The five-year forecast is further informed by recurring national indices that track construction starts, employment, and other key indicators, and provides us a framework to forecast the future state of housing across the nation, and in major markets.