While all real estate is local, The National Association of Realtors has compiled their annual outlook for housing in the US in 2017.
In short, here’s what NAR foresees as going up:
Mortgage interest rates, to 4.6% by year-end.
Existing home sales, by 5.5 million during the year.
New housing starts, by 1.1 million.
Gross Domestic product (GDP) by 2.2%.
And what’s potentially going down: Median home prices, by 4.0%.
According to the Realtor.com® 2017 National Housing Forecast “The 2017 housing market will be a year of slowing, yet moderate growth, set against the backdrop of a changing composition of home buyers and a post-election interest rate jump that could potentially price some first-timers out of the market.”
With interest rates potentially increasing, perhaps it’s time for those on the fence—whether to rent or buy—should consider renting.
For more information on why your should consider investing in a professionally managed portfolio of single-family homes, please contact Harold Willig at email@example.com or 917-209-4452.
Mr. Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience. Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.