Top Real Estate Trends for 2017
- Boomers and Millennials will move markets. The two largest generations in American history — Baby Boomers and Millennials — are approaching life stages that motivate people to purchase a home: empty nesters, retirement, marriage and starting a family.
- The Midwest has the most to gain. According to Chief Economist Jonathan Smoke and Realtor.com, the Midwest will continue to beat the national average in terms of Millennial homebuyers in 2017.
- Price appreciation will slow down. Home prices are likely to go up, as long as supply remains tight, forecasting to slow to a 3.9% growth.
- Fast-moving markets. In the top 100 U.S. metropolitan markets, the inventory of homes available for sale is down 11% year-over-year. However, the average time it takes for a home to sell is 11 days faster than the national average. The markets are predicted to continue to move fast, even with no inventory.