Business & Real Estate
- Published Date
- Written by Los Altos Town Crier Staff - Town Crier Staff Report
The housing market celebrated its best year in nearly a decade in 2015.
In 2016, realtors expect existing-home sales to expand, but at a more moderate pace due to pressures on housing affordability and economic growth, according to National Association of Realtors Chief Economist Lawrence Yun. Yun expects total existing-homes sales this year to grow between 1 and 2 percent (5.3 million to 5.4 million) and prices to increase between 5 and 6 percent.