Written by Brad Beckett
As January comes to a close and we’re firmly sailing into 2017, let’s take a look at some of the predictions that were made for 2017 by various groups, experts and media outlets in the real estate industry. All of these were featured on National REIA’s news site, Real Estate Investing Today. Can you spot the trend?
National Housing Industry Experts Weigh in on 2017
Where is the real estate industry headed in 2017? That was the question put to a panel of experts in the latest issue of DS News in their special feature; An Eye Toward the Future, the 2017 Industry Outlook – a sector-by-sector look at the housing industry from the perspective of those who know it best. National REIA’s Charles Tassell was one of the experts who weighed-in on the subject and his interview can be found on page 57.
Zillow’s Five Predictions for 2017
Zillow’s says there will be “a change in course for the housing market as it continues to reflect the nation’s economic recovery.” So, will millennials finally be moving out of Mom & Dad’s basement? That remains to be seen. However they do say Cities will get cozier, Millennials will move out of the nest, New construction buyers will pony up, Commuters will get comfortable, and Current homeowners will continue to prosper.
Local Market Monitor’s 2017 Economic Outlook
Local Market Monitor (a National REIA preferred vendor) predicts in their National Economic Outlook for 2017 that “the economy will grow at a slower rate, home prices will continue to rise, but more people will want to rent. This isn’t much different from 2016 but the risk of investing will be higher in some local markets.”
Redfin’s 7 Housing Predictions for 2017
Real estate brokerage Redfin said “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.”
Realtor.Com’s Five Real Estate Trends That Will Shape 2017
Realtor.com 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. Specifically they say:. Millennials and boomers will move markets, Millennials will look to the Midwest, Price appreciation will slow down, Fewer homes, fast-moving markets, and The West will lead the way.
Inman’s 2017 Real Estate Industry Outlook
Real Estate news site Inman recently released their Real Estate Industry for 2017 which they surveyed some of the industry’s top executives (among other respondents) who were nearly unanimous in saying that 2017 will be another strong year for real estate and are hoping that freed up inventory, spurred on by higher interest rates, will motivate buyers into taking action. They say, “Thanks to the momentum driving the housing market — good employment, rising salaries, high-earning millennials with an interest in homeownership who are unhappy with high rents — our research found there is good optimism about the housing market in 2017, with 27.43 percent of respondents saying they are extremely optimistic and a further 45.13 percent describing themselves as somewhat positive, while 11.95 percent are ambivalent.”