What Demographics Will Fuel Housing Demand in 2017?

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post What Demographics Will Fuel Housing Demand in 2017? Millennials and the baby boomer population will be demographics to watch in the new year, as the housing decisions they make will increase demand for the next 10 years, according to the 2017 National Housing Forecast report from Realtor.com which details the top housing trends and 100 largest metropolitan markets to watch.A demographic that is known for benefiting greatly from low mortgage rates, the millennial market’s share of the buyer population has decreased to 33 percent due to the increase in interest rates. Baby boomers take up 30 percent of the buyers’ market and are expected to be more successful in closing sales.  Home price appreciation is set to slow down to 3.9 percent growth year-over-year after an estimated appreciation rate of4.9 percent in 2016. However, 26 markets will see price acceleration of 1 percentage point growth or more. Greensboro-High Point, North Carolina; Akron, Ohio; and Baltimore-Columbia-Towson, Maryland will encounter the largest increases in price appreciation. The combination of sparse housing inventory and strong demand was the cause of increased home prices in 2016, according to Realtor.com. The lack of home inventory, which is currently down an average of 11 percent in the top 10 metropolitan areas in the United States, is expected to remain constant in 2017. The current median age of inventory is at 68 days, which is a 14 percent increase than the national average. West coast cities are expected to lead the nation in home prices and sales with increases of 5.8 percent and 4.7 percent, respectively. Six out of the top 10 cities listed in Realtor.com’s 2017 top 100 metro housing markets list are located on the west coast. The top 10 housing markets are: 1) Phoenix-Mesa-Scottsdale, Arizona; 2) Los Angeles-Long-Beach-Anaheim, California; 3) Boston-Cambridge-Newton, Massachusetts-New Hampshire; 4) Sacramento-Roseville-Arden-Arcade, California; 5) Riverside-San Bernardino-Ontario; 6) Jacksonville, Florida; 7) Orlando-Kissimmee-Sanford, Florida; 8) Raleigh, North Carolina; 9) Tucson, Arizona; and 10) Portland-Vancouver-Hillsboro, Oregon-Washington. To read the full report, click here. Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Previous: Codilis & Associates Expands to Indiana Next: Fannie Mae’s Home Purchase Sentiment Index Falls Share Save Related Articles Home / Featured / What Demographics Will Fuel Housing Demand in 2017? Tagged with: Housing Forecasts Housing Market Realtor.com Mirasha Brown is a graduate of Florida A&M University and is pursuing a masters degree at Syracuse University. Born and raised in Florida, she has contributed to public relations and marketing campaigns for Rent The Runway and Billboard. She is a communications specialist with The Five Star and a contributing writer to DS News and the MReport. About Author: Mirasha Brown Is Rise in Forbearance Volume Cause for Concern? 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago December 7, 2016 2,060 Views Housing Forecasts Housing Market Realtor.com 2016-12-07 Kendall Baer Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago in Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Is Housing Prepared for Recession?

first_img Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: default Economy Recession default Economy Recession 2019-12-03 Seth Welborn Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Is Housing Prepared for Recession? Previous: FHFA Updates on Fannie and Freddie NPL Sales Next: The Trends and Challenges Facing Mortgage Servicing Share Save Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Scott Brinkley is the CEO of a360inc. Brinkley recently spoke with DS News about the challenges and trends facing mortgage servicing heading into 2020, technological advancements impacting the industry, and the arc of the economy.”Some of the general trends I’m seeing right now is a head toward recession,” Brinkley said.”It obviously is not going to be anything major, but as interest rates continue to play around, that strengthens the origination market a little bit,” he adds.Brinkley goes on to discuss the impact of reforms and changes in the “market ecosystem.” in Daily Dose, Featured, Market Studies, Newscenter_img December 3, 2019 974 Views Subscribe The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Seth Welborn Home / Daily Dose / Is Housing Prepared for Recession?last_img read more