Our Market Forecast for 2017

Northern Virginia Real Estate Podcast

This has been a great year for our real estate market. However, next year could be even better.

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The new year will be here before you know it. We wanted to take a quick moment today to give you a forecast for what to expect from our real estate market in 2017.

The outlook for 2017 is looking good, according to The Mortgage Banker’s Association. We have sold about 5.8 million homes so far this year, and The National Association of Realtors is predicting six million homes will sell in 2017. Fannie Mae and Freddie Mac both predict we will sell around 6.2 million next year.

We look forward to a great year in 2017.

The reason for this quick uptick in sales is that millennials are finally buying homes instead of renting them. Many of these buyers are starting to purchase homes after paying off their student loan debt, so that’s what’s going to be drive the uptick in home sales. 2017 is projected to be a really good year, and we’re certainly excited about that.

We have had a great year so far in 2016 and we look forward to an even better one next year. If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.