As January rapidly comes to a close, we look towards February as a month of new predictions and possibilities. (After all, isn’t it the month our favorite groundhog tells us whether spring is on the way or we’ll have six more weeks of winter?). But while the groundhog might help predict the outcome of the seasonal weather, what about the housing market? Will the housing market of Columbus continue to skyrocket in 2017?
2017 Could Be Another Great Year for America
Though the national housing market has slowed its rapid ascent somewhat, moderate growth is expected to continue into 2017. Post-election, we are expected to see some higher interest rates and a slight price increase, but sales, and the size of the buyers market shopping for homes, is expected to grow. Along with the market, new home starts and sales are also expected to rise—as much as 10%.
Who’s in the Market?
This year, the market will again be dominated by a growing number of millennials, as well as baby boomers. Because they depend less on financing, boomers will be less affected by the rise in interest rates.
And What About Columbus’s Market?
Columbus is currently ranked as the #42 real estate metro in the United States. However, 2017 should be a year where midwestern cities boom with buyers, and Columbus is expected to lead the pack. Affordability of homes, as well as proximity to jobs, good schools, and plenty of amenities, is drawing buyers looking for a permanent living situation, a place to put down roots and stay a while.
And there’s good news for home sellers. A continued low inventory (available homes for sale) means that homes are flying off the shelf, with list times currently just 68 days—11 days shorter than the rest of America.
Buying a Home in Columbus in 2017?
If you’re thinking of joining the many people putting down roots in a blossoming city, then it’s time to contact me. I can help you learn more about all that Columbus, OH has to offer, explore its outstanding communities, search homes for sale, and buy a home in Columbus this year!
Selling a Home in Columbus in 2017?
Now is the time to act, while inventory is low and buyers are eager! Contact me today to learn more about selling a home in Central Ohio, to find the value of your home, or to list your home today!