Predictions for the 2017 Housing Market from Realtor.com
December 7, 2016
According to Realtor.com’s Active Home Shopper Report, the 2017 home buying season may see a large increase in first-time homebuyers.
The report also indicates that there will be an increased demand for suburban homes. The bad news – buyers will also face greater affordability challenges. The study, based on September survey data of active shoppers on Realtor.com, analyzes responses from consumers who intend to purchase homes in the spring or summer of 2017. The biggest market inhibitor currently is limited inventory, but next year’s biggest challenge could be affordability and buyer hurdles with down payments and credit scores. Nevertheless, the report predicts that first-time buyers could be the majority of all homebuyers next year, with millennials leading the pack. Key property attributes that prospective buyers are prioritizing are no surprise. Buyers want safe neighborhoods, more living space, and sound financial investments. The prediction for the coming year is that they’ll be looking for those features in the suburbs.
This article originally appeared in the December 2016 issue of the REAL Trends Newsletter is reprinted with permission of REAL Trends, Inc. Copyright 2016.
You might also like…
See It, Want It, Buy It: Single Female Homeownership
By Dominique Fair - March 11, 2025
Women have fought for a lot over the last 177 years, whether it was for fair wages, the right to vote, or to be able to own a… Read More
Impact of Infrastructure Projects on Residential Markets
By Sejal Naik - February 27, 2025
“Location, location, location” is often quoted in the real estate market and emphasizes the importance of location-based features in people’s housing market decisions. While many locational characteristics stay… Read More
Key Takeaways: January 2025 Virginia Home Sales Report
By Virginia REALTORS® - February 26, 2025
Key Takeaways Virginia’s housing market saw a slight uptick in activity at the beginning of 2025. There were 5,758 home sales across the commonwealth in January 2025, 104… Read More