Wednesday, December 7, 2016

What's in Store for Real Estate in 2017?

It's nearly year's end, so I wanted to drop by with some predictions for the real estate world in 2017. Experts are predicting the market will stay hot nationwide, and I think Eugene will do the same.

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Christmas and New Year’s are right around the corner, so it's time to make some predictions for the real estate world in 2017.

First of all, let's look at things from a national point of view. As a country, we had about 5.8 million sales, and next year, it's projected to go up to about 6 million sales. Why the increase? Remember, we have a lot of people in Generation Y (mid-30s and down) making their way into the market as buyers. A lot of people think that the Gen-Y buyers will keep the real estate market hot all the way up through 2020!

Generation Y is expected to keep the national market hot through 2020.

Here in Lane County, we had an increase in sales of about 7% in 2016. In 2017, they are predicted to be about the same. One of the reasons the Eugene market is so hot is because Portland is one of the four hottest cities in the U.S. for real estate growth. We're seeing some fallout from that.

With that, let me wish you a wonderful Christmas and holiday season! If you have any questions, always feel free to call or email me. I'll see you soon!

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