Page 102 - enLIGHTenment Magazine - January 2017
P. 102
2017 housing Trends
WHERE
What’s Selling ?
Realtor.compredicts
®
the 5 housing trends
a ecting the housing
market in 2017.
1.
Millennials and Baby Boomers to dominate: These two giant demographics are expected to
®
fuel demand for at least the next decade in the housing market. Realtor.com has lowered
its prediction of the Millennial market share to 33 percent of buyers due to recent increases in
mortgage rates. Baby Boomers are expected to make up 30 percent of buyers in 2017.
2. Midwestern cities get more a ention from
Millennials: The country’s midsection is
estimated to see an increase among Millennials 3.
Price appreciation to slow: Home prices are
purchasing homes in 2017 due to greater a ord-
forecasted to slow to a 3.9 percent year-over-
ability in 15 of the 19 largest Midwestern markets. year growth in 2017, down from an estimated 4.9
Realtor.com® says these metros have an average
percent growth in 2016. According to Realtor.com®
Millennial marketshare of 42 percent or higher: there are 26 metro markets in particular that are
Madison, Wis.; Columbus, Ohio; Omaha, Neb.; Des
predicted to see prices rise 1 percent point or more
Moines, Iowa; and Minneapolis.
with Greensboro-High Point, N.C.; Akron, Ohio; and
Baltimore-Columbia-Towson, Md. expected to see
the largest gains.
4.
Fewer homes on the
market: Inventory is
expected to drop even lower 5.
Western cities to lead in prices and sales: Western metros are expected
in 2017, o ering home buyers to see price increases of 5.8 percent in 2017 with sales expected to rise
even fewer choices. According
4.7 percent, which is higher than the anticipated averages for the rest of the
to Realtor.com®, inventory is
country. Western cities continue to top Realtor.com®’s 2017 housing markets
down an average of 11 percent list, especially Los Angeles; Sacramento and Riverside, Calif.; Tucson, Ariz.; and
in the top 100 metros.
Portland, Oregon.
100 enLIGHTenment Magazine | january 2017 www.enlightenmentmag.com
