The Housing Market is Looking Up in 2016

  • Blog
  • 12.03.2014

The Housing Market is Looking Up

Author: Dragas Team

Three of the nation's leading real estate industry organizations-- National Association of Realtors (NAR), Freddie Mac, & Mortgage Bankers Association (MBA)--  have made extremely optimistic projections about  the state of the housing market. An average of 5.62 million new homes are expected to be built over the next 1.5 years! At the turn of the century the housing market had a rocky start. The fall of the economy & rise of the housing market bubble discouraged many from putting their homes on the market for fear that no one was looking to buy. This trend led to there being a low inventory of homes available. Well, that's all changing now. Both supply & demand are increasing as Builders construct new communities for people who are looking to move-up into a larger more functional space or move-down to a more fitting home for a newly emptied nest. We are  building numerous Dragas Communities throughout Virginia Beach & Chesapeake. One of our more expansive & versatile communities is Spence Crossing. With modern & luxury villas, single-family homes, and even 3-story townhomes Spence Crossing at Princess Anne is sure to have a neighborhood that complements your stage of life.