Real Estate Market Trends

If you're reading this, chances are good that you've already heard something about the serious inventory shortages that have been supressing home sales for months. A lack of available homes on the market has made the home-buying process very painful for some shoppers, and has contributed to the unhealthy price gains that have been occurring in some of the nation's most competitive markets. Luckily, new data from the Commerce Department indicates that inventory relief might finally be on the horizon in the form of new construction!

As we enter the final act of 2016, it is only natural to look toward the future. While this year's housing market saw its share of both positives and negatives, experts are predicting significant shifts in 2017, led by a huge increase in the number of first-time home buyers!

While home sales in 2016 remain solid, continued inventory shortages and huge price gains in many metro areas have worked together to stifle the sales growth expected during a period of historically low interest rates. Although this doesn't appear likely to change before the end of this year, experts are predicting that these issues will be somewhat alleviated for 2017, buoying that year's forecast. In fact, four different sources have each concluded that 2017 will have an even higher sales total than the already strong numbers seen in 2016!