The Housing Market in 2017

With 2016 coming to a close, what will the coming year be like for the housing market? 

Millennials and Baby Boomers

These two generations are predicted to be the drivers of the housing market. Millennials alone will take up about one-third of the buyer market. Many of these young home-buyers will be searching for homes in the Midwest thanks to the affordability of many of those cities. 

Realtor.com found that Millennials made up over 40 percent of the buyer market in this region of the country.

Top Housing Markets

Realtor.com believes that Phoenix/Mesa/Scottsdale will be one of the top 10 housing markets in the U.S.  in 2017. Being an area where many people are looking to move to, it’s likely to see high growth. 

Realtor.com predicts the price of homes in this market to appreciate (5.8 percent), but it won’t slow down sales as the growth rate will be about 6.3 percent. 

Are you ready to jump into the 2017 housing market? To get pre-qualified, contact Sun American Mortgage today: 480-832-4343

For more details on the 2017 housing market, read this MReport article.