The 2017 national real estate market is predicted to grow compared to the last two years, across the majority of economic indicators. Home prices are anticipated to increase 3.9 percent and existing home sales are forecasted to increase 1.9 percent to 5.46 million homes. Interest rates are expected to reach 4.5 percent due to higher expectations for inflationary pressure in the year ahead.
Experts are forecasting the homeownership rate will stabilize at 63.5 percent after bottoming at 62.9 percent in 2016. New home sales are expected to grow 10 percent, while new home starts are expected to increase 3 percent. The forecast is based on GDP growth of 2.1 percent, a 2.5 percent increase in the consumer price index and unemployment declining to 4.7 percent by the end of the year.
Author:Krishna Ganatra Phone: 615-419-2989 Dated: December 30th 2016 Views: 2,196 About Krishna: Krishna moved from Southern California to Tennessee in 2008. After the move, she cannot imagine call...
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The 2017 national real estate market is predicted to grow compare
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