On November 30, 2016, Joe Kirchner of Realtor.com published an interesting real estate forecast report for 2017. Nationwide real estate market expected to gain 3.9%, and home sales predicted to increase 1.9% to 5,46 million homes during 2017. While, homeownership rate will be around 63.5% higher from 62.9% in 2016. New home sales are anticipated to increase 10.0%, and new home starts are forecast to grow additional 3.0% during 2017.
Jonathan Smoke, Chief economist for Realtor.com stated “With more than 95 percent of first-time home buyers dependent on financing their home purchase, and a majority of first-time buyers reporting one or more financial challenges, the uptick we’ve already seen may price some first-timers out of the market.”
For more complete detailed information about the real estate forecast report for 2017, please CLICK HERE
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