2017 Realtors Housing Forecast Summary

Today our Team Lead, Melody Wilson attended the 2017 Realtors Housing Forecast. The room was filled with around 500 agents to hear what the chief economist were thinking is going to happen for 2017.

Interestingly enough, all 3 economist agreed on their outlook for 2017 which is strange but of note. This video Melody just talks about a summary and she will go into more depth in our upcoming Market Stats update.

Summary Points:

  • 2017 outlook: slower growth, with later half of year improving
  • Possible interest rate increase due to US markets increasing their interest rates
  • Average prices only declined less than 2% with a forecast of the same for 2017
  • Prices didn’t drop as much in 2016 because the prices weren’t over inflated to begin with***

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