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What the New Year will bring for the Real Estate Market

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Wed, Jan 11, 2017 at 11:40AM

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New Year brings new trends for the real estate market. Here are 9 trends that we can expect in 2017. 

  1. Millennials and Boomers will dominate the market. There are several factors that make these 2 generations most likely to be the biggest buyers of the year. Millennials are entering a crucial stage of life where they will be entering their career jobs, getting married and looking to settle down. With wages rising and more jobs being created for this age group we will see more millennials buying homes than ever before. As millennials are entering a turning point in their lives so are the baby boomers. The baby boomer generation is entering the age of retirement and experiencing empty nest syndrome as their children leave home. 

        2. Home values will continue to increase but at a slower rate than 2016. Experts are expecting values to increase by 3.6% which is a slight decrease from last year's 4.8% increase. This slight               decrease shows that the housing market is normalizing and recovering from the housing crisis. 

       3. More buyers will be looking to purchase in the suburbs. As home value increase it will become less affordable to live in big cities which will draw more buyers to look outside the city and                into the suburbs.

      4. Pricing of new homes will increase. As the demand for construction workers rises so will the wages for these workers causing a spike in new construction homes.

     5. Millennials moving to the mid-west. These markets are close to large universities, offer well-paying jobs and are generally more affordable for young homebuyers.

     6. West Coast home prices will continue to rise. Population growth will lead to job growth which will lead to a higher demand for homes causing the prices to increase even more. 

     7.  Cities will see denser development with smaller homes. The biggest problem cities are facing is an affordable housing market. We will see smaller houses being built within the see to make           the housing market more affordable. 

    8.  Renting will become more affordable. For the first time in a while income is increasing at a faster rate than rental prices making renting more affordable. 

    9.  Increase in mortgage rates. The housing market crash brought mortgage rates to an all time low over the last few years but as the market stabilizes mortgage rates will increase. If you are          looking to buy the sooner the better!

 Click Here for Full Article on what to expect in 2017! 


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All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: Multiple Listing Service of Brevard (updated 10/19/17)
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