The folks over at Realtor.com recently came up with a list of five trends that they believe will shape the world of real estate in 2017. As in years past, their economic team analyzed economic indicators and market data to come up with their predictions for the coming year. Be sure to read the full article to get the gist of their predictions. Remember….everyone has a crystal ball.
“With more than 95% of first-time home buyers dependent on financing their home purchase, and a majority of first-time buyers reporting one or more financial challenges, the uptick we’ve already seen may price some first-timers out of the market,” says Chief Economist Jonathan Smoke, who worked on the realtor.com 2017 housing forecast.
The five trends are:
1. Millennials and boomers will move markets
2. Millennials will look to the Midwest
3. Price appreciation will slow down
4. Fewer homes, fast-moving markets
5. The West will lead the way