What Will Happen in Our Market This Year?

San Francisco Real Estate Podcast with Durwin Cheung

What’s going to happen in the San Francisco market in 2017? Today I have a market forecast that will give you an idea of where we’re headed.

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A lot of people are curious what’s going to happen in the San Francisco market in 2017. Today, I wanted to give my market forecast for the upcoming year.
According to Realtor.com, interest rates are expected to rise. They won’t rise too much; the forecast is for rates to rise to about 4.5%. Many people were worried about rates after the election, but I think the Fed will keep things pretty stable.
Another thing many people are worried about is whether people will still buy and sell homes in our market. The short answer is yes. In fact, the average number of transactions is predicted to rise about 5.5%. Compared to last year, more people will actually be buying and selling. That indicates good overall health in our market.

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The health of our market should continue to improve in 2017.

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Lastly, what’s going on with prices? Will they go up along with volume and interest rates? According to Realtor.com, the average home value is expected to increase by 4%, which is good news as well.
Hopefully, this helps give you a better idea of what to expect from out market in 2017. If you have any questions I can help you with or you’re looking to buy or sell a home, shoot me a text or send me an email soon. I’d be happy to help.