Housing Market Outlook for 2017

The housing market is poised to remain robust for 2017.

According to Freddie Mac* new single-family home construction will be slightly higher in 2017 to 6.16 million in contrast to 6.04 million in 2016. They also forecast that house prices growth of 5.6 percent annual rate in 2016 will moderate to 4.7 percent in 2017.

Mortage rates to remain low.

Freddie Mac points to mortage rates to remain low, even if worldwide bond yields recover to the pre-Brexit status quo, mortgage interest rates are likely to remain low for an extended period and It calls for a gradual rise in rates throughout the remainder of 2016 and into 2017, with the 30-year fixed-rate mortgage averaging 3.9 percent in the fourth quarter of 2017.

Interest in rental income investment and apartments are currently stronger in places like Miami, Dallas, Seattle, San Francisco, Los Angeles, and, as always, New York.

This is a great time to evaluate cities to invest in real estate. As many of you may already know, real estate transactions here in the US are usually simple and straight forward providing you have all the necessary information and documentation ready.

If you live outside of the US and would like to invest here, or are looking forward to an investor’s visa that will allow you to reside permanently in the US and, eventually, become a citizen, there are some options for you namely the EB-5 Investor’s visa (but this will be a completely different post, coming within the next few days) as it deserves a more detailed explanation.

If you, or someone you know have any questions or are looking forward to investing in the US, drop me a line. I am always at your service.

Warm regards,

Catherine Resek Realtor®, Relocation Expert Partner/Keller Williams Realty Miami cresek@kw.com

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*The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE).