While we do still have a good number of weeks left in 2016, it is time to turn an eye to the predicted real estate trends for 2017. Making real estate predictions is always a risky venture. There are so many variables to consider, and there is no why to foresee exactly how things will play out. Everything from the U.S. Presidential Election to interest rates will play a vital role. Yet, it is time that we start looking to the future.

The real estate news and reporting website KeepingCurrentMatters.com (KCM) compiled predictions from four of our industry leaders. KCM reports. "The National Association of Realtors, The Mortgage Bankers’ Association, Freddie Mac and Fannie Mae are all projecting that home sales will increase in 2017." The predictions range from 6 to 6.5 million home sales for 2017.

Gord Collins, a marketing expert, takes his analysis a bit further. He collected the statistics from real estate's top research and reporting companies. A summary of his in-depth look includes a forecast for price appreciation in the 10% to 11% range. Nonetheless, new home construction will rise at a slow rate, as to protect against creating an oversupply. The fact is, while the U.S. is in a recovery, it has not recovered from the 2008 crash. So, there is a lot of room for consistent and steady growth in real estate.

Keep in mind, real estate markets are very localized and conditions can change even neighborhood to neighborhood. Nonetheless, as Realtor Magazine reports, there is a large population entering their home buying years. Areas with robust economies and limited supply will see the largest price increases. What does this mean for you? If you are looking to buy a home in the very near future, don't wait. Overall, there is an expectation that demand will outweigh supply, forcing prices up.

What haven't we covered yet that is important to you? If you would like to talk about real estate trends for 2017, or need more information, please contact us.

Yours in writing,

The BlogMutt Team