December is nearly over so that means the crystal balls are coming out for 2017. This week real estate brokerage Redfin out together their top seven list of housing predictions for 2017. Enjoy…
“Strong buyer interest, better access to credit and a modest increase in the number of homes for sale will allow home sales to grow, but not as much as in 2016. Home price growth will hold steady. Homes will sell even faster next year, breaking this year’s record as the fastest real estate market.”
Redfin’s seven predictions for 2017 are:
1. The housing market will continue to grow, but at a slower pace due to affordability pressures.
2. 2017 will be the fastest real estate market on record.
3. New-construction growth will slow.
4. Mortgage rates will increase, but not too much.
5. More people will have access to home loans.
6. Millennials will move to second-tier cities.
7. Real estate commissions will continue to fall.
