Sales of single-family homes will rise modestly again in 2016 and median sales prices should be up 3% to 5%, trade groups and researchers say. While rising mortgage rates and a shortage of first-time buyers may temper that outlook some, the coming year should be another seller's market for real estate. Despite an upsurge in construction, home inventories remain low and multiple offers are still common. While a 6-month home supply is considered a balanced housing market, most markets are well below that, some significantly. Moreover, supporting fundamentals are far more solid than about a decade ago in the pre-bust years of 2006-2007.
With that as a backdrop, here are 10 tips for buying and selling real estate in a presumed up-market in 2016.
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