Figures for new construction in the US surged in October to their highest level since 2007. However, despite the hike in housing starts, high demand for property continues. This in tandem with very low inventory levels means the US housing shortage looks likely to continue for at least another four years.
A study of the profile of US property buyers in 2016 revealed an increase in first-time purchases and an overwhelming preference for single family homes. It also showed a market still much in favour of the seller.
The end of the year means investment prediction time. The latest Emerging Trends in Real Estate forecasts which US property markets are the ones to watch in 2017. Unsurprisingly after an excellent 2016, Florida property is one to keep a keen eye on.
That Florida property represents great value this year is no secret but according to a recent survey, it actually couldn’t get any better.
Figures released for US property prices in August point to another rise and bring the market close to its peak reached in July 2006. Prices went up across the board with some markets showing considerably higher increases.
Property analysts are unanimous in that 2016 has been one of the best years for the US housing market since the crisis. With the sector already looking forward to more of the same next year, now is a good time to take a look at some forecasts for the trends in the US property market in 2017.
The so-called millennials now represent the largest generation group in the US property market. A recent survey reveals their homeowner aspirations and what exactly makes the ideal US property for the millennial generation.
Financial instability and political uncertainty in their home countries have led many foreigners to regard the US property market as a safe haven for their investment. The amount invested in properties in the US between April last year and March this year is the second highest since 2009 with big interest from Chinese and British buyers.
For the Americans, property investment is the best long-term choice for their money. Standing well ahead of other investment options, property ranks as the favoured haven for money over stocks, bonds and gold. The turn-around in the US property market with house prices on the rise is one of the main reasons behind their choice. This BRIC Group news article explains the phenomenon.
The latest predictions from Freddie Mac point to 2016 as the best year for property in the US for ten years. Bases its figures on solid job creation, continual household formation and steady price rises pushed upwards by demand, the federal mortgage corporation believes the US property market is set for an excellent year. BRIC Group explains why.