Current Housing Forecast 2017
Many experts, including the National Association of Realtors®, are predicting a strong year for housing in 2017. With low mortgage rates and employment gains, there will be a continued drive on demand in housing throughout the country. Home prices also rose steady year-over-year and most areas are back to near pre-recession highs. That figure is based on 90.6 million U.S. single-family homes and condos tracked by real estate data firm ATTOM Data Solutions.
Although inventory may still be an issue for existing-home sales, buyer traffic has been strong in a lot of markets, including the Austin-area. The Texas Association of REALTORS® reported recently that the home sales volume and median price continued to rise for the third quarter of the year.
Should you buy or sell right now? It depends on what your goals are, where you plan on living the next few years, and your buying power. There is no guarantee of what the conditions will be like for buying and selling in the months ahead. However, if you are curious about your current home’s value, contact us today for a complimentary comparative market analysis. If you are on the fence about buying, now is still a great time with near historical lows for mortgage rates. Contact us to find out how much home you can afford in today’s market.