Recap of 2016, What to Expect in 2017
Goodbye 2016, Hello 2017! Depending on which state you live in, the New Year can be a wonderful thing, or times may be so flourishing you might want 2016 to continue. Either way, 2017 is here!
Real estate in 2016 took two different paths in Michigan and Florida. Lots of activity took place in Michigan in 2016. Real estate trends proved beneficial to both sellers and buyers in the state of Michigan in 2016.
Inventory was extremely low and sales were at record levels. Reasons to buy in 2017 would be: predictions of interest rates rising, price increases, and personal motivations. Two of those three reasons could be used to make the case to sell. Predictions of interest rates increasing and personal motivations could be used to make both cases. The real estate market in Michigan looks to be fast paced and unpredictable in 2017.
In Naples, Florida, inventory has risen dramatically year-over-year, with condo’s leading with 50%! The Michigan market generally follows Florida
Predictions for 2017 in Naples show an erosion of value in some communities – stay tuned!