³ÉÈËXÕ¾

SEATTLE NEWS ARCHIVES & FEATURES

Great expectations: New construction to spark 2016 sales

Dec 2, 2015, 9:36 AM | Updated: Mar 4, 2016, 5:46 am

Total sales for existing and new homes are expected to reach six million for the first time since 2006 next year, according to a 2016 housing forecast issued by realtor.com.

Gains in new-home construction and existing home sales are both expected to push total home sales to the highest levels in years. The new-home construction market is expected to see the most gains in 2016, with a 12 percent year-over-year increase in housing starts and a 16 percent year-over-year growth in new home sales.

The gains in existing-home sales are expected to be more moderate, with expectations of a 3 percent year-over-year gain.

“Next year’s moderate gains in existing prices and sales, versus the accelerated growth we’ve seen in previous years, indicate that we are entering a normal, but healthy housing market,” said Jonathan Smoke, realtor.com’s chief economist.

“The improvements we’ve seen over the last few years have enabled a recovery in the existing-home market, but we still need to make up ground in new construction, which we could begin to see in 2016. New home sales and starts will bring overall sales to levels we have not seen since 2006 and will help set the stage for a healthy new home market.”

Seattle News Archives & Features

Associated Press

Mountain lion bites 4-year-old on popular Olympic National Park trail, injuring child

PORT ANGELES, Wash. (AP) — A mountain lion bit a 4-year-old who was walking with their family over the weekend on a popular trail in Olympic National Park in Washington state, park officials said Monday. The child was injured during Sunday’s attack and flown to a trauma center in Seattle for treatment, according to a […]

11 days ago

A wildfire burning near Lake Cushman has grown by about 200 acres over five days. (Map: Courtesy U....

Tom Brock

Bear Gulch Wildfire near Lake Cushman growing in size

A wildfire burning near Lake Cushman continues to grow in the Olympic National Forest.

13 days ago

Associated Press

Seattle man charged with string of burglaries at the homes of NFL and MLB stars

SEATTLE (AP) — A Seattle man was charged Friday with a string of burglaries at the homes of prominent current and former football and baseball players, marking the latest example of well-known athletes being targeted in home thefts. Earl Henderson Riley IV, 21, was charged with several counts of residential burglary in both occupied and […]

2 months ago

Associated Press

Campgrounds closed along Pacific Crest Trail in search for man wanted in daughters’ deaths

SEATTLE (AP) — Authorities have closed a wide swath of popular campgrounds and backpacking areas along the Pacific Crest Trail in Washington as they search for a former Army soldier wanted in the deaths of his three young daughters. Dozens of additional law enforcement officers from an array of agencies joined the investigation and search […]

2 months ago

In this undated photo released by the Thurston County Sheriff's Office, a cache of military weaponr...

Associated Press

2 arrested with arsenal and Nazi paraphernalia after base robbery were ex-military, prosecutors say

SEATTLE (AP) — Two men arrested in Washington state with an arsenal that included grenade launchers and body armor, along with Nazi paraphernalia, were former military members who attacked a soldier with a hammer while stealing gear from Joint Base Lewis-McChord last weekend, investigators say. Levi Austin Frakes and Charles Ethan Fields were arrested Monday […]

2 months ago

Associated Press

Authorities are searching for a Washington state father of 3 dead girls

WENATCHEE, Wash. (AP) — A Washington state father is wanted for murder after his three young daughters were reported missing and then found dead. Police on Tuesday asked the public for help in finding the father of the girls, Travis Decker, 32. He is wanted for three counts of murder and kidnapping, the Wenatchee Police […]

2 months ago

Great expectations: New construction to spark 2016 sales