REO INVENTORY AND CASE-SHILLER HOME PRICE INDEX 2007 - 2016
ATTOM REO Inventory
S&P/Case-Shiller Composite - 10
S&P/Case-Shiller Composite - 20
Villacorta: National home price growth will remain positive through the end of 2017 but is predicted to continue on the same decelerating pace of the last several years. Conservative forecasts are predicting considerably slower annual growth of around 2 to 3 percent during 2017, around only half of the observed 5.6 percent annual price growth in 2016. While overall national growth is predicted to moderate over the course of the coming year, this shouldn’t be a major cause for concern for all homeowners
levels. New home supply should also increase, though it is not enough to shift the overall landscape of housing inventory, which will continue to hold a sizeable influence over sales and price growth in 2017. Rising interest and mortgage rates will also likely have an impact on the housing market in 2017, as the departure from the extremely low rates seen in 2016 could hamper sales growth and limit recent price gains amid weakened affordability.
The economic backdrop should remain favorable, in particular the healthy labor market. Gardner: I believe that 2017 will be the year that Millennials get into the market in full force — we will also see substantial growth of first-time buyers of all ages. For the better part, would-be buyers have remained “on the fence,” but I see a definitive shift in attitude, as well as increased intent to buy. Look out. They’re coming!
ATTOM Data Solutions • P4
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