Three Trends in the 2017 Real Estate Market

Three Trends in the 2017 Real Estate Market

As 2017 gets into full swing, many real estate analysts are making their predictions regarding the housing market for the next year and beyond. Rising prices in 2016 did little to dim consumer enthusiasm for home buying, and this trend is expected to continue throughout the new year. Here are some key factors to watch in the real estate market for 2017.

1. Increased Construction May Ease Housing Crunch

Construction firms across the U.S. are expressing greater confidence and increased willingness to embark on new projects. This may improve the housing picture in areas currently experiencing serious shortages of affordable homes for sale. Prices are still on the rise in many areas, however, which could have a significant impact on the ability of buyers to purchase the homes of their dreams.

2. Mortgage Rates Hard to Predict

While most experts still expect interest rates to rise in 2017, the extent and speed of these increases may be significantly slower. Market analysts also foresee added volatility in interest rates and pricing throughout the country, making it more difficult for buyers to gauge the right time to make their move in the housing market. The credit crunch may be easing, however, which should be good news for home buyers nationwide.

3. Home Buying Still More Affordable than Renting

Across the U.S., recent figures indicate that buying is still a less expensive proposition for most consumers than renting comparable properties. By investing in home ownership rather than spending money on renting, most individuals and families can build wealth for themselves and for future generations.

At Lakeside Title Company, we specialize in providing our clients with the most accurate and reliable title search and settlement services to ensure a smooth closing process and a successful real estate transaction. We serve buyers and sellers, lenders, real estate agents and builders in the District of Columbia, Maryland, southern Pennsylvania and northern Virginia areas. Contact us today to receive a free quote or to set up an appointment with one of our offices. We look forward to working with you.

Leave a Reply

Your email address will not be published.

Contact Us

Give us a call or fill in the form below and we will contact you. We endeavor to answer all inquiries within 24 hours on business days.
[contact-form-7 404 "Not Found"]