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Projection for 2017 Real Estate Sales and Prices

January 5th, 2017 11:23 AM by Paul Rege , G.R.I, C.B.R. President

 

The 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 sales.

Home prices have fully recovered from the Great Recession decrease, with more growth expected.

  • 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

Posted by Paul Rege , G.R.I, C.B.R. President on January 5th, 2017 11:23 AM

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