What to Expect in the 2017 Housing Market
The two largest American generations in history, the millennials and baby boomers, are approaching life stages that typically motivate people to buy a new home. Marriage and having children for millennials and retirement and an empty nest for baby boomers.
Inventories of homes for sale will remain low, with smaller homes the least available (it's those baby boomers downsizing). There are more large homes on the market, so if you need a bigger house for a growing family, now is the time.
Unfortunately for us, the markets in the West will see price and sales increases, with the Portland area in the top 10 housing markets. Portland is trendy now due to job growth and influx.
Mortgage rates will increase, but there is credit available, and the Federal Housing Finance Agency has announced it will increase lending limits. There are also new programs to assist first time home buyers due to small banks and non-bank lending institutions entering the lending sector.
Whether you are selling or buying, you need an expert to help you maneuver through financing, searching for the perfect home or staging to increase the selling price of your home. Chris and Victoria Garfield of John L. Scott Market Center in Forest Grove have the experience and know-how to guide you through these areas. They know the local market. They live and work here and are community supporters. Call Chris and Victoria today to help buy or sell your home.
John L. Scott Market Center Real Estate
1936 Pacific Ave.