In recent events, an increase in interest rates by nearly one percent has caused a stir. As a result, some think it has a negative impact on home buying. Although, to date, it has not caused a decrease in the number of people entering the homes market. On the contrary, it’s as if it has helped spur a strong increase. In fact, the 2017 domestic real estate market looks promising. For one thing, existing home sales actually jumped about 3% in January. That’s up from December 2016.
2017 Domestic Real Estate Market Looks Promising and Positive
Other reasons for optimism include deregulation. In fact, some changes put forth by the new administration target that. Although, the deregulation has raised a few eyebrows. For example, some real estate pundits expect prices to go up as a result. But, others see new benefits. What are these new benefits? For one, with regulations reduced, lending could increase. As a result, home buyers with some credit challenges could get loans. In addition, where deficit spending happens, new jobs could spring up. In fact, we’ve already seen new job creation in a number of industries this year. Bottom line, with more credit and more jobs on the table, more home buyers can actively bid on homes.
Overall, the forecast for our 2017 domestic real estate market looks promising, and positive. And, I might add that real estate professionals can find something to equate to in having a successful real estate expert at our economy’s helm. It’s an interesting thing really.
A worry some real estate pundits have centers on new policies that could put new home buyers out of contention. That would be due to increased home prices. Although, we’ve seen in the January numbers that home buyers are far more positive about the future than the pundits. In addition, January’s numbers point to a sustained, upbeat trend in home buying. In fact, maybe the pundits and naysayers could learn something from these home buyers. Maybe some of that positive attitude will rub off on them!
Want more information on 2017 San Mateo County market trends? Talk with a real estate market expert. Talk with Carmen Miranda.