Real Estate Predictions in the OC & more, Lunar Year of the Rooster by Lauren Selinsky Realtor
I predict that the Mellennials will be a large group for 2017 homebuying. I believe this because many of the older group of them are settling down and having families. Millennials are also starting to see better job prospects and therefore interested in settling down near their workplace and buying a home and not just renting.... This wll be a huge step for them, but I believe since they will have a budget they may also be better negotiators with their Realtors/Agents. Especially, since they are doing a whole lot of work online prior to picking that phone up and calling a Realtor/Agent. I know so many of us just can't believer the Mennellials are here and ready to conquer the world of growing up and getting married, having a family and now homebuying. They are here and a huge asset to our industry for homebuying and be ready to assist them in 2017. Don't forget to ask them their means of communication! "Key" with Mellennials.
Now, what happens with market. I also predict that not only will real estate normalize in the first quarter after about a 3.3% increase, I think as we reach the 3rd quarter we may have prices start going down. Because what goes up, must come down. It has been a good 8+ years now and I don't think prices will increase at all from what they are right now.
We will have the following predictions too:
Labor shortages due to political decisions made ( that's all I will say on that subject without causing WWIII on AR)
Maybe, lose some amazing people that have health issues and natural causes: Kirk Douglas, President George Bush, and David Rockefeller
More terrorist threats/attacks (unfortunately)
Enough now.. That's my crystal ball for 2017
AR Contest 2017