January 5th, 2017 11:23 AM by Paul Rege , G.R.I, C.B.R. President
housing market is growing — and strong growth is projected to continue in 2017.
More homes are expected to be sold in 2016 than in any year
since the Great Recession. The sales rate is also expected to increase in 2017.
All four forecasts call for an increase in home sales in 2016,
with an average increase of 4.1% over last year. All four forecasts also call
for 2017 to be even stronger, with an average 3.4% increase over this year’s
prices have fully recovered from the Great Recession decrease, with more growth
Late last year, U.S. home prices in general surpassed their
pre-recession peak and now stand 4.5% above that peak, reached in early 2007.1
U.S. home prices increased at an average annual rate of 6.1% in
the year ending in the third quarter of 2016.1
Over the past three years, U.S. home prices have increased at an
average annual rate of 5.5%.1