With top economists like Freddie Mac’s Leonard Kiefer calling 2017 “the best housing market in a decade,” how can 2018 compete?
While 2017 exceeded expectations in the two most important categories, sales and prices, it has its weaknesses. Now that the results are in, here’s a quick review of 2017’s accomplishments and disappointments.2017: Great for sellers, not so great for buyers
Home sales increased by 1.1 percent in 2017 to a 5.51 million sales pace and surpassed 2016 (5.45 million) as the highest since 2006 (6.48 million). NAR’s chief economist Lawrence Yun noted that market conditions were far from perfect and sales would have [...]