Are you thinking of buying or selling your home or asset, but
don’t know if 2017 is an optimal time to do so? Between the uncertainty
produced by the 2016 Presidential election and the high number of baby boomers
and millennials projected to invest in the market, experts are expecting an
interesting year. What does this mean for you?
If you are attempting to make sense of the changes expected to
occur in 2017, the Three Rivers Association of Realtors is here to help.
Bearing this in mind, we would like to present some insight as to what the
average buyer or seller can expect to experience next year.
· Slow but steady wins the race: The real estate market is
expected to remain steady through the upcoming year across the nation, but
slight slowdowns are projected to occur with growth
dropping by 1%.
· Bigger is Not Always Better: Smaller homes have experienced a significant
price rise in comparison to larger houses due to the lifestyle changes that
many are experiencing. Millennials are moving out and babyboomers are newly
empty nested parents are downsizing. Urban
areas are also
appreciating quickly
·
It’s all Good: In general, markets are currently doing very well and interest rates remain lower than average. Expert Rick Sharga estimates that Trump’s presidency will provide some credit relief to the average home buyer, consequently making it more readily available to home buyers.
It’s all Good: In general, markets are currently doing very well and interest rates remain lower than average. Expert Rick Sharga estimates that Trump’s presidency will provide some credit relief to the average home buyer, consequently making it more readily available to home buyers.
· Making Room for the New: Not only is millennial home buying expected to
increase but experts are already beginning to think about generation Z (born
1995-2012). Although this generation will primarily consist of teenagers in
2017, it is foreseen that they will begin saturating the market within the next
several years.
The trends of 2017 have a plethora of implications for a new
direction in the real estate market and for our economy in general. Whether
buying or selling, the Three Rivers Association of Realtors will ensure that
you are never left in the dark, and we are here to assist you in making the
most out of your housing experience. Visit our website today
for more helpful tips and information.
