We are days away from the beginning of 2017. What are the 2017 Real Estate Predictions?
According to Realtor.com, the valley home prices are to climb and sales to jump. Before we get into the reasons why Phoenix is labeled as the #1 Market in 2017, let’s see what other cities made the TOP 10.
Who is labeled as the TOP 10 Markets for 2017?
1- Phoenix- Mesa- Scottsdale, Arizona
2- Los Angeles Long Beach- Anthem, California
3- Boston- Cambridge- Newton, North Carolina
4- Sacramento- Roseville Arden- Arcade, California
5- Riverside- Ontario- San Bernardino, California
6- Jacksonville, Florida
7- Orlando- Kissimmee- Sanford, Florida
8- Raleigh, North Carolina
9- Tucson, Arizona
10- Portland- Vancouver- Hillsbor0- Oregon/ Washington
According to Realtor.com, the Median Home Price is $300,000 with a prediction of a 5.94% price growth and a 7.24% sales growth in 2017.
I’m sure you’re curious just like I was- who made the bottom of the list? That would be Chicago (according to Realtor.com).
Here are the reasons Phoenix is labeled as a HOT market in 2017?
- Foreclosure rates have dropped back to prior boom levels
- 18th lowest property tax in US
- 8th most affordable homes in US
- Apartment rates are rising rapidly
Now you know what the 2017 Real Estate Predictions are. So if you are looking to buy or sell a home, 2017 may be your year to make that change! Give me a call to discuss your options and process.
Realtor, Laurel (Nielson) Jonas 480-229-5861 RealtorLaurelJ@gmail.com