With the close of 2016 behind us, it’s the perfect opportunity to summarize last year’s story and time to look ahead and see what’s expected for real estate listings in 2017! Here are some excerpts from the Economic Forecast by Leslie Appleton – Young, Chief Economist and Vice President of CAR.
The Story of 2016
The US economic and job growth expanded while California’s economy out-performed the nation! Real estate listings and new units remained low. Home sales were constrained by the lack of supply and affordability, and although we saw the highest prices since 2007, sales were relatively flat in 2016.
Expectations for 2017 Real Estate Listings
There are few wild cards for 2017, such as an unexpected rise in rates, a hit to equities, global instability and a lack of affordability. Opportunities are still available for this year! Help turn renters into buyers by becoming well versed on down payment assistance programs, debt management and improving credit. Up your game by helping to educate your first-time buyers and talk to their parents. And don’t give up on international buyers!
Interested in learning more? Download the full article now! Also, find out the status of real estate listings and closures for Petaluma and Penngrove so far in 2017.Download Article