Looking forward, today’s upward home sales volume trend will continue to fuel an annual increase in pricing in the coming months. However, an end to rising sales volume is in sight. Mortgage rates are expected to increase sometime in mid-2016. With the resultant decrease in buyer purchasing power, sales volume will fall off followed by a decrease in pricing 9-12 months later.
For the entire analysis of market trends, please head on over to this excellent article at FirstTuesday Journal.