Next year won’t be housing’s emancipating rebound we may have hoped for, but it’s also more than likely not going to be a stretch we’ll have reason to fear. For glass-half-empty types, 2017 housing measures will likely continue to underperform historical norm trends based on real demand plus pent-up demand. For the glass-half-full set, that solid and growing base of demand–and the big challenges to meet it–remain in the category of a champagne problem.
Key Takeaways:
- Baby boomers are expected to make up 30% of buyers in 2017 and given they’re less dependent on financing, they are anticipated to be more successful when it comes to closing.
- With strong affordability in 15 of the 19 largest Midwestern markets, realtor.com expects this trend to continue in 2017 even as interest rates increase.
- Inventory is currently down an average of 11% in the top 100 metros in the U.S. The conditions that are limiting home supply are not expected to change in 2017.
“Although increasing interest rates have prompted realtor.com to lower its prediction of Millennial market share to 33% of the buyer pool; Millennials and Baby Boomers will still comprise the majority of the market.”
http://www.housingwire.com/articles/38625-realtorcom-predicts-these-5-housing-trends-for-2017
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