HOME        CONTACT        BLOG    
Real Estate. Real Easy.

Find A Home
New Today
By MLS Number
By Municipality
By School District
By Street Name
EveryHome Listings
Buying a Home
Buy With EveryHome
Selling A Home
Sell With EveryHome
Full Service Plus™
Downsizing Services
About EveryHome
Who We Are
Our Agents
Contact Us
A Career With Us
Our Privacy Policy
Video Library
PA : 215-699-5555
or : 800-383-7946

EveryHome’s Real Estate Forecast for 2017

The housing markets of 2015 and 2016 enjoyed record real estate sales, skyrocketing home values, and historically-low interest rates.  Now that most economic indicators suggest that the real estate market has shifted back toward normal, experts are predicting that 2017 will be a year of modest, steady growth and rising interest rates.


While first-time homebuyers were originally expected to be one of the biggest categories of buyers in 2017, the surge in interest rates following the election has some experts concerned that some Millennials will struggle with affordability.  Mortgage rates are on track to hit 5% in 2017.


New construction will continue to be a hot area in the upcoming year, and Greater Philadelphia was recently ranked 8th in the nation for home building markets.  However, it’s not expected that all buyers will prosper from the new development: the vast majority of new homes are going to be available exclusively to the upper-end of the market — that is, above $450,000. While the average square footage of brand new homes is actually getting a bit smaller (and thereby reversing a decades-long trend of “bigger is better”), developers are seeking out higher-priced areas including the Main Line, Center City, and Conshohocken —  and the homes will be more luxurious than ever.


We also expect to see a “fast moving market” locally, meaning that homes will likely sell quickly and bidding wars won’t be uncommon.  The local market experienced a shortage of inventory in 2016, as buyers outnumbered sellers and demand for homes was hot.  That trend is expected to continue in 2017.


Social Media

Visit Us On FacebookVisit Us On TwitterVisit Us On YoutubeVisit Us On PinterestVisit Us On LinkedinVisit Us On Google Plus

Recent Posts




December 2016
« Nov   Jan »


© EveryHome Realty . 1741 Valley Forge Road . Worcester, PA  19490  215-699-5555
EveryHome Realty is licensed by the Pennsylvania Real Estate Commission (license RB066839) and the New Jersey Real Estate Commission (license 0901599)