The year is almost over, so we're seeing expert predictions for the 2017 real estate market start to pour in. Most of the experts share the same opinion for what the market will look like next year.
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The year is winding down and I'm excited to share our 2017 real estate market forecast with you today.
The market looks like it could be really hot—scorching, you might say!
There's a lot of information going into this prediction from experts who are a lot smarter than I am, like the National Association of Realtors, the Mortgage Bankers Association, Fannie Mae, and Freddie Mac, to name a few. They're all predicting a hot year for home sales in 2017.
The NAR is predicting that home sales will reach 6 million next year after predicting 5.8 million homes sales this year. Other organizations predict well over 6 million home sales in 2017—that would be a stronger market than we've seen in a long time.
All signs point to a strong, hot market in 2017.
So what's driving this trend?
First, the economy is solid and growing right now. Another big factor is Generation Y (millennials) finally entering the market after putting off homeownership in many cases. They typically buy later in life, but they're getting to the point of being a major driving force in the real estate market. When they drive up home sales, it will be great for the economy.
This will also drive up your home's value. If you're even just thinking about selling your house, be sure to give us a call or send me an email soon. I'd love to talk you through all the opportunities the market will provide in 2017.
