What the Experts Predict for the 2017 Housing Market 

There is no doubt that post-election concerns have left many wondering what the 2017 housing market will look like. Depending on which side of the Trump fence you look at, there are negative and positive predictions. However, according to the 2017 Housing Forecast provided by realtor.com, the Phoenix-metro area is ranked number one with a projected increase of home values by 5.94 percent and a sales growth at 7.24 percent. Here are a few more highlights that the experts predict for the 2017 housing market:

  • Mortgage rates will likely continue to increase throughout the year.
  • The Millennial generation is likely to enter the housing market, and will be the largest pool of first-time home buyers, surpassing the baby-boomers.
  • Inventory will continue to be a challenge, however in Phoenix is the growth predictions are accurate, we may see this ease with new construction.
  • Current homeowners are staying put longer and investing in remodeling and updating their current property. This is a trend that we will continue to see in 2017.
  • There won’t be a lot of government backed new home incentive programs, however with less mortgage regulation, loans could become easier to get and more creative financing options.

If you or someone you know is interested in learning more about qualifying to buy a home, or considering an upgrade in size or location, please give us a call today. The holiday season is a unique time for real estate and there are plenty of opportunities waiting to be taken advantage of. Give us a call today – Frank

Frank Russo
The Russo Team
RE/MAX Professionals
www.RussoTeam.com
602-864-1200

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