If you are planning to buy or sell a home, it’s crucial to learn about the current conditions of the real estate market so you can get the best deal. Though mortgage rates are likely to rise this year, there are indications the home market will remain steady. RE/MAX Homes & Hills Realty in Black River Falls, WI, says homebuyers and sellers should expect other changes in the industry and set their goals accordingly.
3 Real Estate Market Trends for 2017
Loosening Lending Standards
Mortgage providers are expected to relax lending standards, making it easier for potential homebuyers to be approved for a loan. In addition, the Federal National Mortgage Association and Federal Home Loan Mortgage Corporation — also known as Fannie Mae and Freddie Mac — will offer the opportunity to secure much larger mortgages.
Influx of Millennial Homebuyers
Millennial homebuyers have been making waves in the real estate market the past few years but are expected to have an even stronger presence in 2017. People in this generational group are reaching the age when they are achieving career stability and preparing to settle down.
Home Buying Market Growth in Midsized Cities
With property values continuing to rise in major cities on both coasts, homebuyers are starting to move to smaller cities and areas in the middle of the country. Midsized cities that have a more affordable cost of living and can meet housing inventory demands are luring prospective buyers from traditionally popular locations.
While there always is a bit of uncertainty in the real estate market, considering trends will help you make better decisions when buying or selling property. A knowledgeable Realtor can provide additional insight, and the professionals at RE/MAX Homes & Hills Realty are the best resource in the Black River Falls, WI, area. Call (715) 284-0610 for a free market analysis and visit them online to learn more about their services. Check Facebook and Twitter for news about their latest listings of homes for sale.