What Will the Bradenton Market Look Like in 2017?

Today I’m giving you a quick look at what the real estate market will bring for Bradenton in 2017.

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Now that 2016 has ended, I wanted to give you my predictions for what the real estate market will look like in 2017 in Bradenton.

At the end of last year’s quarter, the Fed met and raised the interest rate a quarter of a percent, and they are expected to raise rates at least three more times in 2017. If they continue to raise the rate by a quarter of a percent each time, the rate will increase by a full point.

I think 2017 will still boast a strong market, but it’s important to keep in mind that every 1% increase in interest rates eliminates 11% of buyers from your potential buyer pool. This could cause prices in home sales to drop.

2017 will end with a buyer’s market, so get your home listed now.

We should also see a stabilization of the market in all areas, including all price points, types of homes, and types of locations. Instead of ending the year with a seller’s market like we did in 2016, the end of 2017 should bring about a buyer’s market. So, if you are thinking about selling your home, now is the perfect time to get it on the market.

I hope you have a great new year, and if you have any questions, feel free to give me a call or send me an email. I look forward to hearing from you!