What Will the Market Look Like in 2017?

We’ve got some predictions to share with you today about the 2017 housing market. Both the NAR and MBA predict an increase in sales.

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Happy New Year and welcome to 2017. I’ve got some news to share with you today that’s hot off the presses from the NAR (National Association of Realtors) and MBA (Mortgage Bankers Association). The headline of the article reads “Hot With a Chance of Scorching,” so I wanted to get this information out to you as soon as possible.

The NAR is expecting existing home sales to reach over six million in 2017, an increase from the 5.8 million that was initially forecasted. The election is over, the housing market is rolling, and there is a lot of activity going on.

Home sellers throughout the country are selling for higher prices.

I also read that the average home seller was putting about $43,000 in their pocket when they sold a home. That’s not what everyone will get, but it is the national average. Even here in Northwest Arkansas, you can still get a fantastic price for your home.

The MBA prediction of 6.2 million home sales is even more optimistic. We did see a little bump in interest rates after the election, but everything has seemed to level off now and we expect significant activity to continue. A huge influx of generation Y buyers is coming into the market right now.

If you are interested in buying or selling, let’s talk. Give us a call or send us an email. We would also be happy to answer any questions you may have. Hope to hear from you soon!