Hot Housing Market Will Continue In 2017

Forecasts from Fannie Mae, Freddie Mac, the National Association of Realtors, and the Mortgage Bankers Association all say that home sales should surpass this year’s totals in 2017. In fact, the forecasts call for somewhere between 6 million and 6.5 million homes to be sold next year. Part of the thinking behind the predictions has to do with the number of young Americans who are now reaching their prime home buying years. Because the number of first-time home buyers has been lower-than-normal recently, there should be growing pent-up demand among younger Americans, who will be eager to buy next year and beyond. Because of this, economists estimate that sales should continue to be strong over the next three years. That’s significant, especially if you’re a current homeowner who has been debating whether or not now is a good time to sell your home. It’s also important for potential buyers. Why? Because an influx of interested buyers could mean more competition and, if for-sale inventory stays low, higher prices. That means, prospective home buyers who are hoping to buy should start getting their finances in order now, so they’ll be able to put their best foot forward when the time comes. More here.


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