BEVERLY HILLS, CA--(Marketwired - Jan 19, 2016) - Teles Properties, one of the fastest growing luxury residential real estate firms in Southern California, is pleased to announce the release of its 2016 Real Estate Outlook, which offers intelligent insight into an industry that Teles experts predict will remain on course as a result of a relatively normal and stable economy.
"Nearly every respected economist is furiously searching for a more sophisticated and dramatic way to describe his or her 2016 prediction other than simply stating it will be just another kinda-normal year ahead," says Teles Properties co-president, Peter Hernandez. "Unlike the previous eight years following the 2008 recession, where there was always something sensational to write about, this year's economic outlook is expected to be relatively humdrum. Lucky for us housing junkies, when it gets boring, that's when it generally gets really exciting for real estate."
Studying aggregate demand for housing, the Teles report tracks the various structural changes within the real estate ecosystem, identifying market forces and demand signals that will significantly influence 2016 real estate trends and activity. In addition to expecting Millennials to dominate the first-time homebuyer category, Teles points to world events and trends, which include the emergence of the "lifestyle homebuyer" -- a new breed rising from the progressive attitudes of flexible employers who offer the option to work remotely. Boomers will also significantly impact multi-dimensional transactional volume (sell and buy), particularly as they leave areas where they currently live and work and move to areas where they may want to retire.
While Teles experts project another few years of healthy rental demand due to overall economic expansion, they see rents leveling off and holding steady through 2016 and 2017 due to more multi-family inventory coming to the market, stability in single-family pricing, and increasing household formations that could drive more traditional homebuyer activity.
"Recent increases in rental costs coupled with wage growth, the return of diversified mortgage products and the extended opportunity to buy in this still historically low interest rate environment may result in a conversion of renters to buyers," says Teles co-president, Sharran Srivatsaa, who believes worldwide elections and international crises, which affect the world economy in aggregate, will impact on the housing market. "Above all, we should expect renewed confidence in home ownership, particularly from the 'boomerang buyers' who struggled with distressed sale issues during the crisis and sat out the mandatory period. It seems they now could get a second shot at the American Dream."
With offices strategically located in California's most prestigious markets, from the highlands of Carmel to the island of Coronado, Teles has become an industry disruptor, consistently ranking #1 in highest sales price to list price ratio, highest per agent productivity, and lowest number of days on the market -- all of which have resulted in explosive growth, from one office and 12 agents producing $20 million in sales in 2007 to 19 offices and 400+ agents generating $2.5+ billion in sales today.
Download a copy of the report here. For more information, please visit www.telesproperties.com or contact Taylor Byers at 949.733.8679 ext. 113 or firstname.lastname@example.org.
ABOUT TELES PROPERTIES: Teles Properties is a luxury real estate firm in California, ranked and recognized for three consecutive years by the prestigious Inc. 500|5000 list of the fastest growing private companies in America. Leading with intelligence, the brand brings together the state's most elite and successful agents and provides them with an unparalleled technology platform to simplify and elevate every aspect of a real estate transaction. Headquartered in Beverly Hills with strategic offices located in California's most prestigious markets -- from Carmel to Coronado -- Teles is renowned for its profound local market experience as well as a comprehensive global division that links international investors to properties in the U.S. and around the globe. For more information, go to www.telesproperties.com.