The Experts Weigh in on the 2017 Real Estate Market

As we head into the Seattle summer, it is a great time to review how the 2017 real estate market is doing so far and what might impact the market in the coming months. Here is what the experts are saying:

John Wellman, The Windermere Wall Street Group General Manager

“Seattle’s population just reached 700,000 and tech companies continue to move people to the area, so builders are hustling to get new homes on the market.  We continue to see multiple offers and discouraged buyers and I see this continuing for the remainder of 2017.  If potential sellers realize that there is a cost to waiting to move up, we might see more inventory, but even with a skyline full of cranes, it doesn’t look like this crazy market will let up anytime soon.”

Matthew Gardner, Windermere Real Estate Chief Economist

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Doug Duncan, Fannie Mae Chief Economist

“Positive demographic factors should continue to reshape the housing market, as rising employment and incomes appear to be positively influencing millennial homeownership rates.”

Diana Olick, CNBC

“Even as more homes come on the market for this traditionally popular sales season, they’re flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver’s seat.”

Daren Blomquist, Senior VP at Attom

“I am guessing we will see it get even better… If you are considering moving, it could be a really good time to sell.”

Lawrence Yun, NAR Chief Economist

“The early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home last month. Although finding available properties to buy continues to be a strenuous task for many buyers, there was enough of a monthly increase in listings…for sales to muster a strong gain. Sales will go up as long as inventory does.”

Mark Fleming, First American Chief Economist

“Despite higher mortgage rates, the potential for home sales increased on an annual basis driven by steady income and job growth, along with a surge in building permits. While it may be a little late for this spring, the increase in building permits is a welcome sign that some relief may be in sight for the inventory shortages that are holding back many markets from realizing their full potential this spring.”


Posted on May 26, 2017 at 13:14
Brandon Sturgis | Category: OWN | Tagged ,

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