2017

How's the Real Estate Market? Find Out What the Experts Are Saying

As we head into summer, it is a great time to review how the 2017 real estate market is doing so far.

Here is what the experts are saying:

DougDuncan, Fannie Mae Chief Economist

“Positive demographic factors should continue to reshape the housing market, as rising employment and incomes appear to be positively influencing millennial home ownership rates.”

Diana Olick, CNBC

“Even as more homes come on the market for this traditionally popular sales season, they're flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver's seat.”

Daren Blomquist, Senior VP at Attom

"I am guessing we will see it get even better… If you are considering moving, it could be a really good time to sell."

LawrenceYun, NAR Chief Economist

"The early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home last month. Although finding available properties to buy continues to be a strenuous task for many buyers, there was enough of a monthly increase in listings…for sales to muster a strong gain. Sales will go up as long as inventory does."

Mark Fleming, First American Chief Economist

“Despite higher mortgage rates, the potential for home sales increased on an annual basis driven by steady income and job growth, along with a surge in building permits. While it may be a little late for this spring, the increase in building permits is a welcome sign that some relief may be in sight for the inventory shortages that are holding back many markets from realizing their full potential this spring.”

BOTTOM LINE

In our local market, we are seeing prices rise and inventories selling quickly. It is apparent that you need to put a strategy in place - if you are thinking of purchasing a home or if you want to move and sell your home. We are THE MLITELLO TEAM. We have over 40 years of experience selling real estate North of Boston in Essex County on the North Shore! Call us TODAY!

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