The US Housing Market Forecast is Looking Good 2017 to 2020 and Beyond
Welcome to 2017! I hope you’re feeling good about buying, investing and selling in 2017. More real estate and investment experts are predicting a strong year ahead for the 2017 US Housing Market with almost no risk of a crash downturn. They see existing home sales of 6 to 6.5 million in 2017 along with 160,000 new homes being built per year up to 2024. When builders are feeling optimistic, it’s a good omen.
What’s also a good omen is what you’re going to read in this post. It may impact your choice about many things in 2017, from employment, to finding the best investments 2017 to moving where opportunity is.
Interest in rental income investment and apartments is particularly strong now in places like Dallas, Seattle and San Francisco. Whether you’re in Los Angeles, San Diego, San Francisco Bay Area, Seattle, Denver, Miami or New York, the outlook for return on investment is positive. See this post on investing in rental income property. Get some tips on how to do a better homes for sale search.
You won’t find too many US housing forecasts beyond 2017, yet we’re looking looking for the best cities to invest in real estate, where to buy a home, and whether this is a good time to sell your home.
Here’s a short list of positive factors that will affect the housing market 2017 and beyond:
- moderately rising mortgage rates
- low risk of a housing crash for most cities
- millennials buyers coming into the main home buying years
- a trend to government deregulation
- labor shortages pushing up costs of production
- the economy will keep going – longest positive business cycle in history
- Donald Trump and his “drain the swamp” crew
The biggest factor even for 2017 is Donald Trump. The repatriation of business back to the US may come with a big price — a high dollar and strong inflation. Trump has spoken on another matter that might seem inconsequential – that of forgiving student loan debt after 15 years. Young people including Millennials can’t buy homes because of massive student loan debts that kill their credit scores and keep them unable to save for the downpayment. That’s called a syndrome.
What Trump is doing hopefully, is creating a new spirit for business, that even small businesses might stand a chance in 2017 and beyond. And these are businesses that build and renovate homes, supply services, owned by people across the country who haven’t had a break in a long time (disappearing middle class). This can raise confidence and intent about buying a home, or investing regardless of the price.
And prices for homes for sale in some areas of the country are still affordable — just maybe not Miami, San Francisco, Los Angeles, Seattle or New York!
Read more about the 2017 US Housing Market at gordcollins.com