Happy 2017!!! Are you curious what the real estate market is expected to do this year? Are you on the fence on whether or not to move? Here is what various economist and experts are predicting for this year…
- Economist are calling Dallas one of the hottest markets in the country!!!
- This year there is still a lot of demand but limited supply. This puts upward pressure on property values, so we continue to see strong appreciation. Nationwide appreciation is forecasted at 3.9% but Dallas will continue to outpace the nation with a forecasted 7.3% appreciation.
- New home sales are expected to increase by 10%. We are definitely seeing neighborhoods pop up left and right as we try to accommodate all the people moving here daily.
- Interest rates are beginning their creep up (it’s time…we’ve been spoiled for a long time now). They are forecasted to reach approximately 4.5% by the end of the year, which is still crazy good.
- Boomers and Millennials are the two biggest buyer groups. Boomers, in general, want to downsize in square footage but upsize everything else. They seek active communities, low maintenance, and efficient floorplans. Millennials are looking for homes that require little or no work, an open floorplan, a home office, and also want low maintenance. Both main buyer groups want to walk into a home and be wowed. Staging has never been so important. Let us help walk you through what you need to do to get top dollar!!!
We are so excited about what 2017 has in store and look forward to serving you this year!!!