Housing Trends for 2017

A Review and Look At the Housing Trends 

Taking a quick look at October and November's housing numbers first before jumping into the housing trends of 2017.

October 2016 

According to NAR ( National Association of Realtors) Housing sales were up in October by 2%. According to an article from the NAR  existing sales will close out the year at a pace of around 5.36 million. That would surpass 2015’s sales numbers, which were 5.25 million. It also would mean 2016 clocks in with the highest amount of existing-home sales since 2006’s 6.48 million. http://realtormag.realtor.org/daily-news/2016/11/30/sales-contracts-reach-highest-level-july

November National This Month In Real Estate

Housing Trends for 2017 

The past year in real estate saw healthy increases in value nationally due to low-interest rates, and the millennials buying homes this according to an article from Market Watch.  But what's ahead for real estate in 2017?  

More millennials — roughly, those born between the early 1980s and the late 1990s — are expected to buy a first home in 2017, according to the Washington, D.C.–based National Association of Realtors.

Use of drones predicted to increase since it's been cleared by the FAA. FAA Clears Drones     Drones have many uses in the sale and inspection of a property.     Field Guide For Drones in Real Estate

According to Fortune if you are looking to buy now would be the time to lock in those low-interest rates! The average rate could rise in the beginning of 2017.  

For sellers, the prediction is house prices will continue to rise on average nationally 5.2 % according to a report from Corelogic.

For buyers, getting a mortgage could be easier but interest rate expected to rise. Read more here about future of getting a mortgage. 

These are only a few trends you can read more here or call we would love to discuss your real estate needs for 2017.

A Look At The Local Navarre Numbers

The average days on market as of December 2016 for the year was 120 days, with an average sales price of 240,000.   Want to know more about the local market call today.  320-321-9902 or visit our website at : Sell Your Home