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What Will Our Market Look Like in 2017?
Manage episode 169898411 series 1085896
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What are the experts saying about the market in 2017? Today, we'll take a look at some market predictions at a nationwide level and on a local level here in Omaha.
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Today I wanted to offer up my predictions for what the Omaha real estate market will hold in 2017.
First, let's examine things from a national perspective.
Inman News has done surveys recently that show 70% of respondents feel positive or very positive about the state of the market as we head to 2017. Much of this comes back to our excellent employment figures and rising salaries, as well as rising rents. These factors all contribute to a positive real estate market.
A similar survey by Inman News also revealed that 50% of respondents feel very favorable about the new president because they see him as someone who knows and values real estate and its place in the market. Love him or hate him, there are many people out there who think a Trump presidency will contribute to a healthy real estate market in 2017.
Some experts even predict a 4.5% rise in home sales. This would likely be caused by the low inventory we have, job growth, and rising interest rates. Really, it creates a perfect storm for home sellers.
Locally, what do I think will happen?
If you're a first-time home buyer, get in the market before rates rise again.
I agree a lot with these national predictions. My thoughts are that thanks to Omaha's low unemployment rate and excellent salaries, we'll continue along the same path of these trends. Rising salaries will cause renters to want to get out of a lease and into a home they can own. Most of the things that contribute to a healthy national market should continue to do the same here in Omaha.
The main takeaway, though, is if you're a first-time home buyer, don't wait to buy a house!
If you're a first-time buyer, get in touch with a good Realtor and get the process started before interest rates go up again. Feel free to give me a call with any questions, or if you're ready to buy or sell a home in Omaha. I look forward to helping you!
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