Real Estate Outlook for 2017

By
Managing Real Estate Broker with Skye Louis Realty 3187020



Bidding goodbye to 2016 leaves us a pretty good year for the real estate industry. This is despite the ups and downs experienced. As 2017 turns its first few pages, here are some outlooks casted by experts on the field.

According to realtor.com, the industry will experience a moderation. But it will not be a deterrent for the pace of growth to be strong. Pricing will still be above average level of appreciation.

According to Jonathan Smoke, prices will start reverting to normal several years after the 2008 market crash. The effect would be for buyers to shoulder slightly higher prices than what houses were tagged the previous years.

There will be competition between two large home buyer segments - the millennials and the baby boomers. According to statistics, these two groups of home buyers are the largest groups who will demand houses because of their needs.

 

Image courtesy of Insurance Greenvilles


The millenials will demand houses because of their want for independence, family readiness, and investments. On the other hand, the baby boomers will buy houses primarily because of retirement and due to being empty-nesters.

Despite the financial constraints that will be largely brought by higher mortgages, the millenials will still be active in buying homes in areas where prices are moderated. There will still be key cities and areas where home prices will remain affordable.

The market is forecasted to be in a fast-moving phase. Median age of inventory will be at 68 days. This will be the time it will take a house to sell. This will be for the top 100 cities and is pegged to be 11 days faster than the national average.

2017 is a pretty exciting year for the real estate industry. Let's just keep our fingers crossed that it will be very good and very prosperous for all of us!

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Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Thanks for the outlook Desare,

I hope you are having a joyous holiday season.
Wishing you all the best now and through the new year!
Bob

Dec 31, 2016 11:31 PM #1
Rainmaker
64,417
Desare Kohn-Laski Skye Louis Realty
Skye Louis Realty - Coconut Creek, FL
Residential Real Estate

Bob Crane Sure I had a joyous holiday and hope you had the same too. I also wish you the best whole year round!

Jan 05, 2017 06:58 AM #2
Ambassador
3,856,627
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Desare Kohn-Laski Skye Louis Realty -  you are right - as we embrace the modernization, we are likely to see growth in Real Estate.

As time passes, Millennial will be #1 clients for many of us - and I think that may happen sooner than 2030. We have to wait and watch.

Jan 07, 2017 07:15 PM #3
Ambassador
3,856,627
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And thanks, Desare Kohn-Laski Skye Louis Realty for your entry to the contest - and early predictions of 2017 through your crystal ball.

Appreciate your participation.

Jan 07, 2017 07:16 PM #4
Rainmaker
64,417
Desare Kohn-Laski Skye Louis Realty
Skye Louis Realty - Coconut Creek, FL
Residential Real Estate

Praful Thakkar Yes, many stats are pointing to the millenials to be heading the group of home buyers. A few years from 2030, we can have a feel of it - well, at least according to my crystal ball!

Thank you too for appreciating my entry to your contest. I want to be more active in the community this year and I do think that participating in contests like yours is a one step to realize it.

Jan 07, 2017 11:22 PM #5
Rainmaker
831,354
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

The millenials will demand housing. Unfortuanately places like NYC, SF and other areas prices have gone out of reach. It will slow down with higher mortgge interest rates.

Jan 08, 2017 07:42 PM #6
Rainmaker
833,740
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Praful Thakkar - Thanks for hosting this contest!  

Here is my entry...

Sedona Arizona Real Estate Forecast for 2017

Jan 11, 2017 05:21 AM #7
Rainmaker
1,308,579
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

I agree, 2017 is going to be RE strong and well see more listings and more buyers. 

Jan 14, 2017 07:01 PM #8
Rainmaker
64,417
Desare Kohn-Laski Skye Louis Realty
Skye Louis Realty - Coconut Creek, FL
Residential Real Estate

Inna Ivchenko Yes, let us all hope that more buyers, particularly the millenials and baby boomers, will busy themselves hunting for their dream homes.

Jan 14, 2017 11:01 PM #9
Rainmaker
64,417
Desare Kohn-Laski Skye Louis Realty
Skye Louis Realty - Coconut Creek, FL
Residential Real Estate

Sam Shueh Who knows there might be some turn arounds in your area that will still bring buyers to their dream homes?

Jan 14, 2017 11:02 PM #10
Rainmaker
64,417
Desare Kohn-Laski Skye Louis Realty
Skye Louis Realty - Coconut Creek, FL
Residential Real Estate

Sheri Sperry - MCNE® The real estate forecast for 2017 all points to a somehow stronger real estate market. Hope your area will be attracting more buyers.

We should be thankful to Praful Thakkar for thinking of contests like this.

Jan 14, 2017 11:04 PM #11
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Desare Kohn-Laski Skye Louis Realty

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