Nebraska Real Estate Companies

2016 Looks to Be a Record Year, but the Market is Changing

The statistics are in and 2015 was another record year in the Omaha Real Estate market.  The Omaha Board of Realtor statistics show we closed over $2.689 Billion and 13,808 transactions last year.  The market increased 13% in Volume and 7% more units over 2014.  While these are record numbers let’s take A Look Ahead at the 2016 Omaha Real Estate Market.

The most alarming statistic is the number of listings on the current market.  At the end of 2009, there were almost 5000 active listings.  This was the bottom of that recession and definitely a buyer’s market.  Things have rebounded so much in 5 years that despite record sales, inventory is at an all time low.

With only 2500+/- active listings buyers are fighting over whats available.  Land development and new construction halted during the recession and have not caught up to the current demand.  New construction is one option, but lots are scarce and builders are swamped.  Because of the rising cost of materials, land, and labor most builders only build above the $300,000 threshold to remain profitable.

This is a problem because 77% of the homes sold in 2015 were below $300,000.  Lack of affordable housing for the majority of home owners is an epidemic that I believe will define the next few years.  Other factors such as increasing interest rates and a Presidential election typically drive the market as consumers can sense the upcoming changes.

With every change comes an opportunity and I believe rising rental rates and easing of financing rules will open the door for Millennials to purchase their first home.  I have also heard from more real estate investors who are looking to invest in real estate again.

In summary, 2016 should be another record year, but it will be a very different market by year’s end.  A consumer’s buying and selling needs are often defined by their personal situation and it pays to know the market.  Team Bober is here to help with your buying, selling, or investing needs.  Don’t go at it alone, call Team Bober for all of your real estate needs! [ ]

List of Nebraska Real Estate Companies

Kraupie’s Real Estate & Auctioneers 262-1150917 Main St
Bridgeport, NE 69336
CENTURY 21 Da-Ly Realty 384-11012514 S Locust St
Grand Island, NE 68801
The Agricultural Land Company 382-91191433 N Webb Rd
Grand Island, NE 68803
Century 21 Midlands 234-55503423 2nd Ave
Kearney, NE 68847
Sellstate Performance Realty 261-61014500 S 70th St
Ste 102
Lincoln, NE 68516
NAI FMA Realty 441-58001248 O St Ste 550
Lincoln, NE 68508
Kraupie’s Real Estate & Auctioneers 262-1150917 Main St
Bridgeport, NE 69336
Headley Realty, PC 291-081411812 S 25 St
Bellevue, NE 68123