In our Predictions issue last year, there were messages of cautious optimism. Our panel thought employment numbers would continue to improve, that consumer confidence would grow, and that demand for housing would rise. They told us that the recent enactment of TRID would result in a stronger position for consumers, that interest rates would go up, and that appraisals could get more expensive. And, for the most part, they told us that they were confident in their outlook on the market.
Today, fresh off an unusual presidential election cycle, we have a different vantage point. We asked some more pointed questions of our panel this year, such as: What will our new president’s impact be on housing? Are we experiencing a shortage of appraisers, and if so, how will that affect closing times in 2017? And what role will virtual reality play in housing next year?
We have a vibrant panel of local real estate professionals, including managing brokers, association executives, presidents, CEOs, agents, lenders and developers. Read on to see what these real estate leaders predict for the new year.